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Spot Turmeric Remains Steady

20 Jan 2020 7:10 pm
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MUMBAI (Commoditiescontrol) - Spot turmeric prices rules steady at the major markets in the country on Monday as concerns over crop damage in Maharashtra following the recent showers offset arrival pressure.

A total of 7,000 bags (1 bag = 65 kg) of spice arrived in the mandis today.

The outlook for turmeric remains weak as arrivals of the fresh crop have started in key spot markets of Nizamabad, and are likely to gain momentum in the coming weeks.

This season, crop has been delayed by a fortnight as late rains led to poor weather conditions and drying the crop took more time than usual which hampered the arrivals and moisture increased.

Prices are also likely to decline due to expectations of a rise in production in 2019-20 (Jul-Jun) to 1.5-1.6 million bags, against over 1.2 million bags last year, according to industry estimates.

At the National Commodity and Derivatives Exchange (NCDEX), turmeric for delivery in March ended lower by Rs 158 or 2.47 percent at Rs 6,248 per quintal after moving in the range of Rs 6,390 and Rs 6,182 per qunital.



Commodity

Market

Variety

Min

Max

Min Previous Day

Max Previous Day

Change(Max Today-Prev Max)

Arrival

Turmeric

Nizamabad

Gattha

6000

6000

6000

6000

0

4000

Turmeric

Nizamabad

Finger

6200

6200

6200

6200

0

Turmeric

Nizamabad

D P Finger

7200

7200

7200

7200

0

Turmeric

Nizamabad

D P Gattha

7000

7000

7000

7000

0

Turmeric

Hingoli.

Finger

5200

6300

2000

Turmeric

Nanded

Gattha

5700

6000

5700

6000

0

1000

Turmeric

Nanded

Finger

5700

6400

5700

6400

0



       
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