Mumbai, April 8 (CommoditiesControl): Turmeric markets largely saw stability to weakness in recent trading sessions, with most major spot markets reporting subdued prices. Duggirala and Hingoli witnessed declines ranging from Rs 200-500 per quintal. Despite strong domestic demand, export demand remained lackluster.
Arrivals in turmeric markets declined to 9,200 bags from 19,000 bags in the previous session, primarily due to the closure of the majority of markets. Erode reported 2,800 bags, Duggirala reported 400 bags, and Hingoli reported 6,000 bags. Market participants noted that arrivals were 20-30% lower than expected due to significantly reduced output.
Meanwhile, turmeric futures prices on the NCDEX experienced a slight decline, with prices decreasing by 0.1% in April and 0.5% in June contracts. Despite this marginal decline, NCDEX futures prices are anticipated to remain supported in the coming days.
NCDEX Spot (RS/Qtl)
- Nizamabad - NCDEX Polished: Rs. 16,577
- Nizamabad - NCDEX Unpolished: Rs. 15,642
- Sangli - NCDEX Rajapore: Rs. 18,360
NCDEX Future (RS/Qtl)
- Apr-24: Rs. 16,800 (-16, -0.1%)
- Jun-24: Rs. 17,350 (-48, -0.3%)
(CommoditiesControl Bureau; +91-9820130172)
Turmeric contract for APR delivery settled at Rs 16800/quintal showing an fall of Rs -16 over previous close of Rs 16816/quintal,The contract moved in the range of Rs 16630-17040 for the day. Open interest decreased by -805 MT to 6015 MT, while trading volume decreased by -945 to 2165 MT.
Turmeric contract for JUN delivery settled at Rs 17350/quintal showing an fall of Rs -48 over previous close of Rs 17398/quintal,The contract moved in the range of Rs 17220-17600 for the day. Open interest increased by 600 MT to 13505 MT, while trading volume decreased by -785 to 2160 MT.
Currently The spread between APR and JUN contract is -550 Rs/quintal.
(By Commoditiescontrol Bureau: +91 9820130172)
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