AGRI COMMODITY MARKET STRATEGY-24 MAR

TURMERIC 
 
Turmeric futures fell on large stocks, new season supply and weak overseas demand. The key April contract ended down 3.66 percent at 6,218 rupees per 100 kg. 

SOYABEAN 
 
Indian oilseeds and soyoil futures fell following weakness in overseas markets and on weak local demand. Malaysian palm oil futures fell to a three-week low, tracking weakness in competing edible oil markets, while downbeat export data and improving weather conditions 
also weighed on prices. 
 
CHANA 
 
Indian chana, or chickpea, futures fell due to a pick-up in supplies from Madhya Pradesh and Rajasthan amid sluggish local demand. The intraday trend looks weak in the short term but concerns about the crop damage due to recent hailstorms and heavy rains in the western state 
of Maharashtra and the central state of Madhya Pradesh, may provide some support to prices. India will provide 13.5 billion rupees ($221.29 million) to farmers affected by heavy rains and hailstorms in the two key producing states.

JEERA 
 
Indian jeera, or cumin seed, futures bounced back after hitting a contract low on Friday on value-buying, supported by some export demand, though large supplies from the new season crop and expectations of higher output are seen weighing on prices.

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