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Spot Turmeric Prices Muted amid Lack of Demand, Futures Extend Southward Move

28 Oct 2020 7:44 pm
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Mumbai (Commodities Control) - Spot turmeric was quoted weak-to-flat in all the major mandis today. Turmeric futures have been trading weak through the week, so far.


Turmeric arrivals in Nizamabad mandi were reported at 1,000 bags vs 1,500 bags on Tuesday. Gathha variety of turmeric shed Rs 100 amid weak demand, while other varieties were priced steady.

At Basmatnagar and Warangal mandi, prices were quoted steady amid arrivals of 4,000 bags and 150 bags of turmeric, respectively.


Meanwhile Gattha and Finger varieties of turmeric lost Rs 100 each to be priced at Rs 5,100-5,400 and Rs 5,100-5,700 per Quintal, respectively.

On NCDEX, November-December futures ended lower, for the third straight session, at Rs 5,870 (-66) and Rs 5,944 (-24) per Quintal, respectively. Futures contracts of turmeric on the National Commodity and Derivatives Exchange closed weak, due to absence of strong demand amid ample carryover stocks in the market.

Turmeric prices were steady at Erode mandi amid arrivals of 1,300 bags vs 900 bags in the last session. Gathha and Finger varieties were quoted at Rs 5,500-5,700 and Rs 5,800-6,000 per Quintal, respectively.


‘Amid weak turmeric prices affecting farmers,Tamil Nadu government should take steps to enhance turmeric exports and improve their livelihood’, said Erode farmers during the grievances redress meeting held through video conferencing.


Collector C. Kathiravan chaired the meeting from the Collectorate and arrangements were made in the offices of Revenue Division, Tahsildar and agriculture offices enabling farmers’ participation.


Many farmers said that turmeric was the main crop raised in Erode district and drop in prices led to farmers stocking it for months. They said that due to huge demand for turmeric in Sri Lanka, the produce was smuggled regularly to the island nation and sold in black markets. Hence, steps should be taken to export turmeric to nations where there was good demand.

28/10/2020

27/10/2020

Turmeric

Nizamabad

Gattha

5700

5700

5800

5800

-100

1000

Turmeric

Nizamabad

Finger

5900

5900

5900

5900

0

Turmeric

Nizamabad

D P Finger

6700

6700

6700

6700

0

Turmeric

Nizamabad

D P Gattha

6600

6600

6600

6600

0

Turmeric

Basmatnagar

Gattha

5000

5500

5500

4000

Turmeric

Basmatnagar

Finger

5000

6200

6200

Turmeric

Warangal

Gattha

4300

4400

4400

150

Turmeric

Warangal

Finger

4500

4600

4600

Turmeric

Kesamudram

Gattha

4200

4300

4300

50

Turmeric

Kesamudram

Finger

4300

4400

4400

Turmeric

Erode

Finger

5800

6000

5800

6000

0

1300

Turmeric

Erode

Gattha

5500

5700

5500

5700

0

Turmeric

Nanded

Gattha

5100

5400

5200

5500

-100

1000

Turmeric

Nanded

Finger

5100

5700

5200

5800

-100



       
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