Login ID:
Password:
Partner Login
Contact Us : 7066511911

Nizamabad Turmeric Prices Rise Rs 100 amid Fear of Reduced Output, Strong Futures

19 Jan 2021 6:59 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

Mumbai (Commodities control) - Nizamabad turmeric prices moved Rs 100 higher for all the varieties of yellow spice , barring the finger variety that fell Rs 100 on Tuesday. Turmeric prices in other major spot markets settled flat on Tuesday.

The yellow spice settled steady in Basmatnagar amid arrivals of 3,000 bags, unchanged from last session. Turmeric was quoted unchanged in Sangli and Warangal mandis amid stable arrivals of 2,000 bags and 100 bags respectively.

Turmeric prices were flat in Erode and Nanded mandi amid arrivals of 2,500 bags and 1,100 bags of yellow spice.

On NCDEX, turmeric April and May futures settled higher for the second straight session on Tuesday. April futures closed Rs 114 higher, while May futures ended Rs 168 stronger.

According to the traders, prices are poised to gain as there are fears that there could be as much as 25 percent crop loss in states such as Telangana and Andhra Pradesh. Even in Maharashtra’s Sangli district, the crop has been affected.
Excess rainfall during October had affected the development of fruit in the three States. Even in Tamil Nadu, another major producer, production was lower due to non-availability of farm labour in the aftermath of the novel Coronavirus pandemic.
During the 2019-20 season (July-June), India’s turmeric production was estimated at 9.46 lakh tonnes compared to 9.61 lakh tonnes the previous year, despite the area under the crop rising by 4,000 hectares to 2.57 lakh hectares.
Market expects turmeric production to be around last year’s level, though the trade was talking of plus or minus 10 percent.
The turmeric crop has begun arriving in Telangana and Andhra Pradesh since early this month, while it will start in other parts of the country in a month’s time.
Exports have helped turmeric prices gain. Exports have increased by nearly 40 per cent this fiscal, with Bangladesh being a major buyer.
According to the Spices Board, Indian exported 99,500 tonnes of turmeric valued at Rs 8,581 crore during April-September 2020 against 69,500 tonnes worth Rs 6,338 crore during the same period previous fiscal.

Commodity

Market

Variety

Price

Price

Prev_Price

Prev_Price

Change(Max Today-Prev Max)

Arrival

Turmeric

Nizamabad

Gattha

5500

5700

5400

5600

100

2500

Turmeric

Nizamabad

Finger

5600

5700

5500

5800

-100

Turmeric

Nizamabad

D P Finger

6600

6700

6500

6600

100

Turmeric

Nizamabad

D P Gattha

6500

6600

6400

6500

100

Turmeric

Basmatnagar

Gattha

5150

6200

5150

6200

0

3000

Turmeric

Basmatnagar

Finger

5200

6000

5200

6000

0

Turmeric

Sangli

Kadapa

5600

5700

5600

5700

0

Turmeric

Sangli

Rajapuri

6200

6700

6200

6700

0

2000

Turmeric

Warangal

Gattha

4200

4300

4200

4300

0

100

Turmeric

Warangal

Finger

4400

4500

4400

4500

0

Turmeric

Erode

Finger

6200

6400

0

2500

Turmeric

Erode

Gattha

5800

5900

0

Turmeric

Hingoli.

Finger

5000

6500

5000

6500

0

1000

Turmeric

Nanded

Gattha

5900

6100

0

1100

Turmeric

Nanded

Finger

6000

7000

0


N       
  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
New Coriander Prices Wane amid Restricted Buying as Arr...
Spot Jeera Rise Upto Rs 95/20Kgs in Rajkot This Week am...
Red Chilli Prices Head Higher amid Robust Festive Deman...
Turmeric Futures Ends in Lower Circuit amid Profit Book...
Coriander Loses Colour amid Weak Buying, Arrivals Press...
more
Top 5 News
Chana Move Higher in Spot Mkts
New Coriander Prices Wane amid Restricted Buying as Arr...
Spot Guar Gum Gains Due To Positive Trend In Futures, S...
Decline Trend Continues In Mustard Seed, Oil On Heavy A...
Domestic Tur Mixed in Major Mkts, Burma Variety Weak in...
Top 5 Special Reports
Weekly: Chana-Masoor Prices Gain Most This Week, Urad-...
Weekly: ICE Cotton Suffers First Weekly Drop in Februar...
Weekly: Bullish Factors Intact in NY Sugar as Fund Buyi...
Pulses Special: Government Procurement Key to Price Ral...
Weekly: NY Cotton Extends Upward Rally, Finishes Above...
Copyright © CC Commodity Info Services LLP. All rights reserved.