Possibility of further rise in turmeric

Due to very low productivity of turmeric crop, both stockists and speculators have come into the field, due to which there was a significant rise of Rs 13/14 per kg in a span of one week. The pressure for turmeric of the year 2024 is not being created in any market of South India, only much of the old turmeric of the year 22-23 is left, all the goods before that have been milled. There is very little left for delivery in the old stock of turmeric in futures and it has reduced significantly due to the delay in the upcoming crop. Due to which, due to reduction in futures delivery in the month of May, once the stores have started purchasing the goods competitively at reduced prices. Due to continuously showing higher forward deals in the futures market, the spot market is also expected to increase further. So now the risk has ended from here and the rise is again rising to Rs 10/15 per kg. After the rally, there will be a fall of Rs 2 per kg due to profit booking and selling, but one should keep taking profit in every rising price.

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