Turmeric, Corn and Copper

The price of turmeric between 1 October 2009 and 15 October 2009 shot up from around Rs8,000 to Rs8,900 due to lower arrivals and strong demand. Emergence of export demand from the Middle East is also supporting the gain in prices. Turmeric stocks were already lower by seven lakh bags compared to last year and the recent floods and heavy rains have further increased the gap to about eight lakh bags. Post-Diwali, prices are expected to touch Rs7,800 to Rs8,000 levels as some profit-booking would be seen in the markets.

Recent floods in the southern states of Andhra Pradesh and Karnataka have affected the corn-producing belt. This will keep corn prices high, since nearly one-fifth of the crop in Karnataka and AP has been wiped out. Karnataka and AP account for 10% and 20% of corn output respectively.

Copper remains a base metal with strong fundamentals. Chinese demand has begun to normalise; demand for copper remains fairly robust while scrap supply remains steady too. However, fears that all is not well with the supply scenario have resurfaced due to strikes in key producing areas. The rich countries are likely to join the emerging world in global economic recovery in 2010 resulting in a rise in the copper demand in the first quarter of 2010. Copper prices are expected to move above $6,700 in the next three-four months. 
 

  • Like this story? Get our top stories by email.

    User 

    We are listening!

    Solve the equation and enter in the Captcha field.
      Loading...
    Close

    To continue


    Please
    Sign Up or Sign In
    with

    Email
    Close

    To continue


    Please
    Sign Up or Sign In
    with

    Email

    BUY NOW

    online financial advisory
    Pathbreakers
    Pathbreakers 1 & Pathbreakers 2 contain deep insights, unknown facts and captivating events in the life of 51 top achievers, in their own words.
    online financia advisory
    The Scam
    28 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
    Moneylife Online Magazine
    Fiercely independent and pro-consumer information on personal finance
    financial magazines online
    Stockletters in 4 Flavours
    Outstanding research that beats mutual funds year after year
    financial magazines in india
    MAS: Complete Online Financial Advisory
    (Includes Moneylife Online Magazine)