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Turmeric: Spot Prices Stable; Futures End Strong

28 Sep 2020 7:09 pm
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Mumbai (Commodities Control) - Spot Turmeric prices were positive-to-steady in major mandis across the nation amid firm futures and generally stable arrivals.

Turmeric futures on NCDEX October ended at Rs 5786, up Rs 38. November futures closed at Rs 5854 (+24). Futures recovered as investors covered short positions after last week’s fall in prices.

Prices upped Rs 100 each for Gathha and DP Gathha at Nizamabad mandi, amid unchanged arrivals of 2,000 bags on Monday. Finger and DP Finger varieties were priced steady at Rs 5700 and Rs 6600 per Quintal, respectively.

Finger and Gathha varieties were quoted steady amid increased arrivals of 500 bags on Monday vs 300 bags on Friday.

It is interesting to note that turmeric prices at Kesamudram mandi were steady-to-strong, despite higher arrivals of 150 bags vs 100 bags in the last session. Gattha variety was quoted unchanged at Rs 4200-4500 per Quintal, while Finger variety rose Rs 100 per Quintal.

Turmeric prices were quoted flat at Nanded and Erode mandis amid arrivals of 1,500 bags (unchanged) and close to 2,900 bags (-300 bags), respectively.

Experts reveal that Indian spices primarily jeera, turmeric and ginger are in high demand from international destinations. According to Spices Board of India estimates,during April-July 2020 4.33 Lk tonnes of spices were exported, valued at 7760 Crores, while last year 3.2 Lk tonnes of spices were exported, value of which was reported at around Rs 7028, for the corresponding period. This accounts for nearly 10% of rise in terms of quality and value exported.

Due to its immunity-boosting properties Indian spices are being sought after by China, Iran, Morocco and Bangladesh apart from the usual importers- U.S and Europe.

Commodity

Market

Variety

Min

Max

Min

Max

Change(Max Today-Prev Max)

Arrival

Turmeric

Nizamabad

Gattha

5600

5600

5500

5500

100

2000

Turmeric

Nizamabad

Finger

5700

5700

5700

5700

0

Turmeric

Nizamabad

D P Finger

6600

6600

6600

6600

0

Turmeric

Nizamabad

D P Gattha

6500

6500

6400

6400

100

Turmeric

Warangal

Gattha

4200

4400

4300

4400

0

500

Turmeric

Warangal

Finger

4400

4500

4300

4500

0

Turmeric

Kesamudram

Gattha

4400

4500

4300

4500

0

150

Turmeric

Kesamudram

Finger

4500

4700

4500

4600

100

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

1500

Turmeric

Nanded

Finger

5200

5700

5200

5700

0


       
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