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Turmeric Rules Flat In Major Markets; Futures Extend Gains

17 Jul 2017 4:42 pm
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MUMBAI (Commoditiescontrol) - Turmeric ruled mostly flat across the major market of the country on Monday despite of good demand and positive futures.

Demand is good in the spot market, but buyers are doing bargain at the higher rates, said a trader from Erode.


A trader from Nizamabad said 'There is large difference between spot and futures and thus in order to adjust price with spot market and thus futures market has witnessed bullish tone."

Better quality material in Nizamabad is around Rs 8,400 level, whereas near month August contract is still ruling lower at Rs 7,790/100kg, he said.

Futures market is likely to perform better in the coming session in order to narrow down the spread between spot and futures, he said.

Fundamentals in Turmeric is seems to bullish on prospects of acreage to fall this season due to poor realization to farmers earlier this season followed by low rainfall in few major producing regions, said a trader from Sangli.

Turmeric August delivery futures rose 3.83%, or Rs 288 at Rs 7,808/100kg on the National Commodity & Derivatives Exchange Ltd (NCDEX). The contract traded between Rs 7,620 to Rs 7,820.

Mandi Sub_Var1 Arrival Price Prev_Arrival Prev_Price
Erode Finger 8500 8300/8500
Erode Gatha 2300Bags(70kg) 7800 2900Bags(70kg) 7600/7800
Duggirala Gatha 7000/7400 7000/7400
Duggirala Finger 400Bags(70kg) 6600/7500 300Bags(70kg) 6600/7500
Basmatnagar Best Selam 7000/9000 7000/9000
Basmatnagar Gatha 1500-2000Bags(70kg) 7200/7700 8000Bags(70kg) 7200/7700

(By Commoditiescontrol Bureau; +91-22-40015533)


       
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