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Spot Turmeric Rules Steady Amid Limited Demand

21 Jan 2020 6:59 pm
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MUMBAI (Commoditiescontrol) - Spot turmeric prices rules steady at the major markets in the country on Tuesday due to limited demand from local and overseas buyers and on expectations of a higher crop.

A total of 4,400 bags (1 bag = 65 kg) of spice arrived in the mandis today.

According to traders, 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 higher by Rs 10 or 0.16 percent at Rs 6,256 per quintal after moving in the range of Rs 6,318 and Rs 6,192 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

2000

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

Sangli

Kadapa

6170

6170

6170

6170

0

Turmeric

Sangli

Rajapuri

7400

7400

7400

7400

0

Turmeric

Erode

Finger

6300

6400

6300

6400

0

2400

Turmeric

Erode

Gattha

6100

6300

6100

6300

0



       
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