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Turmeric Prices Dropped In Spot Amid Weak Demand, Hopes of Higher Output

3 Jul 2020 6:13 pm
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Mumbai (commodities control) - Turmeric prices declined sharply amid Weakened demand and anticipation of higher output in the upcoming season. Most of the varieties gave up Rs 100-400 in major mandis across India. While Futures prices lost Rs 98, as July contract on NCDEX ended Rs 5576/quintal.

7000 bags of yellow spice were reported in Nizamabad. DP Gatta variety was quoted Rs 100 lower at Rs 6400/quintal, while DP Finger variety was down Rs 200 at Rs 6500/quintal. Meanwhile Warangal mandi reported arrivals of 2000 bags, while Gatta slipped Rs 200 to be quoted at Rs 4300-4600 and Finger variety was priced Rs 400 to be priced at Rs 4000-4700 per quintal. Traders reveal that substandard quality is the reason behind weak turmeric prices. Erode mandi reported arrivals of 2800 bags, while prices were stable. Traders reveal that sowing in the turmeric producing belts is at its peak and there's expectation of higher output next season.

       
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