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MARKET WRAP Turmeric rises on extend buying Jeera slumps on fresh arrivals Pepper up on short covering Soy bean, soy oil rise on bargain buying Chana up on short covering Potato surges on weak arrivals Cardamom gains on fresh buying
The turmeric arrivals expected to rise in coming weeks could pressurize prices to some extent but traders believe export demand would determine the trend for the commodity. Low stock levels could support the rates further. Thus some firmness could be noted for the commodity amidst high volatility depending on the reports on the production and export front. Demand from US and European countries for Jeera is likely to shift more towards India in coming weeks due to low stocks in the International markets. Export demand from South-East Asian countries have been there. The trend would depend on the crop arrivals of Pepper in Vietnam and its effect on the Indian exports. Market is waiting for release of February month edible oil import data, which is likely to be released next week. Physical markets are witnessing subdued trading on poor demand and higher supply of the oil. The arrivals of Guar have come to an end across the spot markets which have resulted in subdued spot activities. The predictions of the normal monsoon are weighing on the market sentiments. www.capitalheight.com capitalheight.wordpress.com