Selected Turmeric Varieties Rise in Nizamabad, Warangal Mandis; Futures Range-Bound

Mumbai (Commodities control) - Spot turmeric prices were firm-to-steady on Thursday, while futures prices bounced back from the previous session to settle marginally higher. Nizamabad and Warangal mandis reported some action with turmeric prices, while other mandis witnessed stable prices.

On NCDEX, turmeric settled Rs 10 higher for December futures at Rs 5,504, while April futures settled Rs 40 higher at Rs 5,808 per Quintal.

Spot turmeric varieties were all quoted steady Nizamabad mandi, barring Gathha that was priced Rs 100 higher at Rs 5500-5700 per Quintal. The mandi registered arrivals of 2,000 bags vs 1,000 bags in the last session.

Gathha and finger varieties were quoted unchanged at Sangli mandi amid unchanged arrivals of 3,000 bags. Even Basmatnagar mandi reported steady prices for Gathha and Finger varieties amid arrivals of 3,500 bgs vs 3,000 bags of yellow spice in the last session.

However at Warangal mandi, Gathha variety gained Rs 100, while Finger variety shed Rs 100 amid arrivals of 50 bags vs 150 bags in the last session.

Meanwhile, Turmeric prices were quoted stable at Nanded mandi amid 800 bags.

Prices have been under range-bound due to ample carryover stocks.Traders see an output of 60-90 Lakh bags, with 1 Bag=60 Kgs, along with a hefty carryover stock of 45 lakh bags.