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Turmeric: Finger Variety Rises in Nizamabad, Erode; Futures Rally for Third Straight Session

20 Jan 2021 7:18 pm
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Mumbai (Commodities control) - Turmeric variety of Finger variety shot up in Nizamabad, Erode and Hingoli by Rs 100-300/Quintal, while only DP gathha variety gave up Rs 100/Quintal. Turmeric prices in other major spot markets settled flat on Wednesday.


The yellow spice settled steady in Basmatnagar amid arrivals of 3,000 bags, unchanged from last session. Turmeric was quoted unchanged in Sangli amid stable arrivals of 2,000 bags. Warangal mandi registered unchanged arrivals of 100 bags today.Turmeric prices were flat in Nanded mandi amid arrivals of 1,100 bags of yellow spice.


On NCDEX, turmeric April and May futures settled higher for the third straight session on Wednesday. April futures closed Rs 124 higher, while May futures ended Rs 122 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.


Commodity

Market

Variety

Price

Price

Prev_Price

Prev_Price

Change(Max Today-Prev Max)

Arrival

Turmeric

Nizamabad

Gattha

5400

5800

5500

5700

100

1500

Turmeric

Nizamabad

Finger

5500

6000

5600

5700

300

Turmeric

Nizamabad

D P Finger

6500

6700

6600

6700

0

Turmeric

Nizamabad

D P Gattha

6400

6500

6500

6600

-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

6500

6700

6200

6400

300

2000

Turmeric

Erode

Gattha

5700

5900

5800

5900

0

Turmeric

Hingoli.

Finger

5000

6800

5000

6500

300

2000

Turmeric

Nanded

Gattha

5900

6100

5900

6100

0

1100

Turmeric

Nanded

Finger

6000

7000

6000

7000

0







N       
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