Spot Turmeric Falls in Warangal, Nizamabad amid Higher Arrivals, Subdued Demand; Futures End Tad Bit Higher

Mumbai (Commodities control) - Spot turmeric prices were Weak-to-steady on Friday, while the spice traded mixed in the previous session, across the major markets in India. Futures prices ended firm for active contract after four consecutive sessions of weaker closings.

On NCDEX, turmeric settled Rs 34 higher for December futures at Rs 5,538, while April futures settled flat at Rs 5,882 per Quintal respectively. The most active December contract has shed over Rs 200 between Monday and Thursday this week. The most-active contract touched a five-month low of 5,492 rupees per 100 kg in the last session, as demand from bulk domestic and foreign buyers was subdued.

Spot turmeric varieties – Gattha and DP Finger shed Rs 100 each in Nizamabad mandi, amid arrivals of 5,000 bags vs 4,000 bags in the last session. Meanwhile, the Gathha and finger varieties were quoted unchanged at Basmatnagar mandi amid arrivals of 3,500 bags.

Kadappa variety upped Rs 200 in Sangli, while Rajapuri was priced unchanged on Friday, amid arrivals of 2000 bags. Meanwhile at Warangal mandi, Gathha variety dipped Rs 100 to be quoted at Rs 4,200-4,300 amid arrivals of 75 bags vs 50 bags in the last session.

Turmeric prices were quoted stable at Kesamudram. All the varieties of the yellow spice were quoted flat at Erode and Nanded mandi amid arrivals of 1,800 (-700) bags and 1000 bags respectively.

Prices have been under pressure due to surplus stocks with traders.