Here is a review of the news in India “Agri Picks Report June 08, 2023: Geojit ; According to Geojit, On Wednesday, Jeera futures continued rising, while coriander and turmeric futures too a breather from the recent fall and inched up on NCDEX.”
The news report is about the movement of agricultural commodity futures on the National Commodity and Derivatives Exchange (NCDEX) on Wednesday, June 8, 2023 in India. According to the report, jeera (Cumin Seeds) futures continued to rise, while coriander and turmeric futures took a breather from the recent fall and inched up.
The report attributed the rise in jeera (Cumin Seeds) futures to tight supplies and increased demand from exporters. The report also said that the rise in jeera prices was supported by the fall in the rupee against the dollar, which made Indian jeera (Indian Cumin Seeds) more competitive in the global market.
The report said that the rise in coriander futures was supported by the increase in arrivals in the spot market. However, the report said that the rise in coriander prices was capped by the subdued demand from the processing industry.
The report said that the rise in turmeric futures was supported by the increase in demand from the domestic and export markets. The report also said that the rise in turmeric prices was supported by the fall in the production of turmeric in India.
Overall, the news report is positive for the agricultural sector. The rise in jeera (cumin seeds), coriander, and turmeric futures is a sign of strong demand for these commodities. The rise in prices is also a positive for farmers, who will benefit from the higher prices.
However, it is important to note that the prices of agricultural commodities are volatile and can fluctuate significantly due to a number of factors, such as weather conditions, supply and demand, and government policies. Therefore, it is important for farmers and traders to monitor the market closely and take appropriate risk management measures.
News Source : https://www.moneycontrol.com/news/business/stocks/agri-picks-report-june-08-2023-geojit-10762031.html
News Date : June 08, 2023
Review Date : June 09, 2023