Due
to slow progress of monsoons this year, the Indian turmeric futures
high on Monday. India is the biggest producer and exporter of the
yellow spice and is expected to 30% this season. Today at 8:41 am,
the August contract rose up by 2.99% to Rs.5,450 per 100kg after
hitting a contract high of Rs.5,478.
Jeera
or cumin seed, hit a contract high of Rs.16,247.5. The August Jeera
contract was up by 1.23% to Rs.16,035 per 100 kg. Jeera is planted
during winter season, its planting is done during october and the
monsoon's help in keeping the soil moist. At Unjha, a market in
Gujarat, the Jeera prices rose to Rs.15,508 per 100kg.
The
trading in pepper futures was weak as traders cashed out gains at
higher levels. The August contract fell by 0.59% to Rs.43,050 per
100kg. It has risen more than 4% this month. According to analysts,
their are less chances of prices falling beyond Rs.42,500, whereas
there are chances that it may touch Rs.44,000 in short term.
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