Login ID:
Password:
Partner Login
Contact Us : 7066511911

Lacklustre Trade in Spot Turmeric amid Weak Domestic Demand, Overseas Orders; Market Eyes New Crop Harvest

23 Nov 2020 8:24 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

Mumbai (Commodities control) - Spot turmeric prices were generally unchanged from the previous session, across the major markets in India on Monday.


Barring Gattha variety that slipped Rs 100 at Rs 5,600-5,700 per Quintal in Nizamabad mandi, the prices remained stable for all the varieties in Nizamabad, amid arrivals of 2,000 bags, unchanged from last session.


Meanwhile, the yellow spice was quoted steady for both the varieties at Basmatnagar mandi amid arrivals of 2,000 bags. On Monday, Kesamudram, Erode and Nanded mandis reported steady prices as Erode registered unchanged arrivals of 1,400 bags of turmeric.

In Warangal, however, Gathha and Finger varieties dropped Rs 200-300 to be quoted at Rs 4,200-4,300 and Rs 4,500-4,600 per Quintal today.


On NCDEX, turmeric settled lower by Rs 18 and Rs 34 for December and April futures at Rs 5702 and Rs 6,006 per Quintal respectively. The most active December contract settled higher in the last two consecutive sessions on firm export data. India exported 79,000 tons of turmeric during Apr-Aug, up 37% on year.


Having said so, harvest of new crops is expected to commence this week in Maharashtra, Telangana and Andhra pradesh. Meanwhile ample carryover stocks in the market is an area of concern for the prices. Also the stockists and most of the traders are facing a cash crunch due to which they are making purchases as per immediate requirements.

Orders from the Middle-East, U.S, Europe and South-East Asia have declined. Even domestic markets are missing wholesalers and bulk buyers post Diwali.


Analysts expect December futures to crack lower as new crop arrivals are expected to flood the markets in a few weeks from now, while the market is already burdened with a hefty carryover stock of 45 Lakh bags (1 bag=60 Kgs). Traders are extremely cautious with their purchase and are bargaining heavily.


Commodity

Market

Variety

Min

Max

Min

Max

Change(Max Today-Prev Max)

Arrival

Turmeric

Nizamabad

Gattha

5600

5700

5700

5800

-100

2000

Turmeric

Nizamabad

Finger

5600

5800

5700

5800

0

Turmeric

Nizamabad

D P Finger

6500

6600

6500

6600

0

Turmeric

Nizamabad

D P Gattha

6500

6600

6500

6600

0

Turmeric

Basmatnagar

Gattha

5200

5400

5200

5400

0

2000

Turmeric

Basmatnagar

Finger

5000

6200

5000

6200

0

Turmeric

Sangli

Kadapa

5600

5900

5600

5900

0

Turmeric

Sangli

Rajapuri

6200

6700

6200

6700

0

1500

Turmeric

Warangal

Gattha

4200

4300

4400

4500

-200

70

Turmeric

Warangal

Finger

4500

4600

4800

4900

-300

Turmeric

Kesamudram

Gattha

4500

4600

4500

4600

0

Turmeric

Kesamudram

Finger

4600

4700

4600

4700

0

Turmeric

Erode

Finger

6000

6100

6000

6100

0

1400

Turmeric

Erode

Gattha

5500

5700

5500

5700

0

Turmeric

Nanded

Gattha

5100

5300

5100

5300

0

Turmeric

Nanded

Finger

5500

5700

5500

5700

0



       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  
   

Top | Post Comment  

Latest Market Commentary
Spot Turmeric Trades Flat Across Major Spice Mandis; Fu...
Spot Jeera Prices Unchanged amid Consistent Arrivals, F...
Red Chilli Rates Mixed amid Reduced Arrivals, Pale Dema...
Spot Coriander Crumbles Under Weak Demand in Rajasthan,...
Spot Turmeric Rises in Nanded, Steady in Sangli & Waran...
more
Top 5 News
Chana Traded Mixed in Spot Mkts
Spot Mustard Seed Prices Steadies After Sharp Fall, Oil...
Uttar Pradesh Sugar Mill Prices - 18 JAN 2020
Maharashtra Sugar Mill Prices – 18 JAN 2021
Gujarat Sugar Mill Prices – 18 JAN 2021
Top 5 Special Reports
Weekly: Tur, White Pea Gain Most This Week; Chana Weake...
USD/INR (Jan ‘21) – Weak Price Trend / Next Target at 7...
USD/MYR—
USD/CNY & USD/IDR
USD/ARS & USD/BRL—
Copyright © CC Commodity Info Services LLP. All rights reserved.