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Turmeric: Spot Prices Stable amid Cold Demand, Average Quality Arrivals; Futures Pale

24 Sep 2020 7:05 pm
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Mumbai (Commodities Control) - Spot Turmeric prices were muted amid dull demand on Thursday across the major mandis. Even futures settle lower amid lack of cues from spot markets. Reduced arrivals were witnessed in Nizamabad and Nanded mandis today, keeping prices generally stable.


Turmeric futures on NCDEX October ended at Rs 5728, down Rs 70. November futures closed at Rs 5800 (-76). Futures pulled back after the previous session of positive settlement.


Prices were quoted steady at Nizamabad mandi, amid lower arrivals of 2,000 bags vs 3,000 bags in the last session. All turmeric varieties were priced unchanged in the mandi on Thursday. Gattha and Finger varieties were priced flat at Rs 5600 and Rs 5800 per Quintal, respectively. DP Finger was quoted flat at Rs 6600 along with DP Gattha Rs 6500 per Quintal.


Finger variety was steady-to-weak in Warangal as arrivals rose by 100 bags to 300 bags. Meanwhile Gattha was quoted flat at Rs 4300-4400 per Quintal, while Eagle variety dropped Rs 100 per Quintal.


It is interesting to note that turmeric prices at Kesamudram mandi rose, despite higher arrivals of 300 bags vs 100 bags on Wednesday. Gattha variety was quoted Rs 200 higher at Rs 4200-4500 per Quintal. The mandi witnessed arrivals of rotten, pest-eaten supplies in the previous session.


Turmeric prices were quoted flat at Nanded and Erode mandis amid arrivals of 1,000 bags (-500 bags) and close to 3000 bags (+1300 bags), respectively.


Erode turmeric merchants reveal, though the arrivals have increased lately, prices are subdued and the sale was normal, as 60 percent of the arrivals were sold. The buyers quoted decreased price due to arrival of medium quality turmeric.


Commodity

Market

Variety

Min

Max

Min

Max

Change(Max Today-Prev Max)

Arrival

Turmeric

Nizamabad

Gattha

5600

5600

5600

5600

0

2000

Turmeric

Nizamabad

Finger

5800

5800

5800

5800

0

Turmeric

Nizamabad

D P Finger

6600

6600

6600

6600

0

Turmeric

Nizamabad

D P Gattha

6500

6500

6500

6500

0

Turmeric

Warangal

Gattha

4300

4400

4300

4400

0

300

Turmeric

Warangal

Finger

4500

4600

4600

4700

-100

Turmeric

Kesamudram

Gattha

4200

4500

4200

4300

200

300

Turmeric

Kesamudram

Finger

4500

4600

4500

4600

0

Turmeric

Erode

Finger

5800

6200

5800

6200

0

2900

Turmeric

Erode

Gattha

5500

5800

5500

5800

0

Turmeric

Nanded

Gattha

5200

5400

5200

5400

0

1000

Turmeric

Nanded

Finger

5200

5700

5200

5700

0




       
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