Turmeric futures traded on a positive note last week on short coverings as well as lower level demand. Prices declined over the last few days on weak demand due to arrivals of poor quality crop in the physical markets coupled with huge carryover stocks. The spot settled 4.24% lower while the June futures settled 2.92% higher w-o-w.
Turmeric futures are expected to trade on a positive note. Lower level demand and expectations of overseas enquiries may support prices. Weak demand due to poor quality arrivals as well as huge carryover stocks may pressurize prices at higher levels.
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