#ncdextips

Turmeric prices dropped due to sufficient stocks arriving in the market coupled with expectation of good production

Prices also got some support due to lower sowing area in Tamil Nadu due to deficient rainfall and in AP as shifted to Cotton

Indian turmeric exports have been hit by the US sanctions against Iran, the largest buyer of the spice from India.

In Nizamabad, a major spot market in AP, the price ended at 6576.2 Rupees dropped -23.8 Rupees.

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Mustard seed prices dropped due to expectation of better crop next year due to good rains. Rapemeal exports have been steady against higher stocks. Mustard output last year is pegged at 93.4 lakh tonnes in 4th Advance estimate by Government, up from 87.8 lt in 3rd estimate. Nafed has commenced the sale of PSS Mustard seed rabi 2019-20 in Madhya Pradesh from through NEML and MSTC portal. In Alwar spot market in Rajasthan the prices dropped -38.65 Rupees to end at 4076.5 Rupees per 100 kg. 

Silver prices fell as stocks recovered on the positive Hong Kong’s political development and reports that the U.S. and China would resume trade talks in October. Pressure also seen after news that trade talks between the U.S. and China will resume next month. Focus now shifts to the U.S. central bank's meeting later this month, amid expectations of a 25 basis point interest rate cut. China's Commerce Ministry said its trade team will consult with their U.S. counterparts in mid-September in preparation for negotiations in early October.