MTECHTIPS:Turmeric demand may support Seasonal prices in Jan 2013

Turmeric futures are seen weak because of sluggish demand and steady arrivals in major spot markets. The domestic demand stood on lower side as the stockists are waiting for the new crop to arrive in January. Weak export demand too weighs on the market sentiments. Still, the farmers are holding back their stocks expecting a rise in price on reports that the Government will fix a Minimum Support Price. High stocks are also expected to weigh on the sentiment in the near term. However, strong seasonal demand from major importing nations and local buyers during the month of January may support the prices.



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