According to Angel Commodities ,We expect turmeric to trade down as supplies may improve due to good prices in physical market. Moreover, export demand may rise in next two – month keep prices in a positive bias.
Angel Commodities report on Cotton
Cotton complex traded on negative note on T hursday on p rofit booking at higher levels after good recent rally. However, t here is growing demand from textile sector due to limited supplies of quality cotton in the domestic market.
Delayed arrival of monsoon could affect the cotton acreage in the key growing regions of Central and South India. Moreover, scare of pest attacks such as whitefly and pink bollworm, which caused major losses to farmers last year and the attempts by some State governments to wean away farmers from cotton could shrink the acreage of the fibre crop this kharif season.
Global Cotton Updates
ICE cotton futures closed lower on profit booking at higher levels pressured by weakness in outside markets and a stronger dollar.However, it touched highest in over nine months on Wednesday on concerns over the crop because of rains and flooding in the southeastern United States.
We expect cotton prices may trade lower as market is expecting some corrections. However, cotton supplies in spot markets have been dwindling while domestic textile units are ramping up purchases. There will be renewed buying interest among market participants on reports of lesser sowing in north India.