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Spot Turmeric Brightens in Nizamabad, Nanded; Futures Settle in Green

27 Jan 2021 6:21 pm
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Mumbai (Commodities control) - Spot turmeric prices are continuously edging higher at major mandis in the country. At apex Nizamabad mandi, Finger and DP Finger varieties of turmeric moved Rs 300-500 higher, while Gathha and DP Gathha inched up by Rs 100-500 per Quintal amid arrivals of 3,000 bags vs 1,500 bags in the last session


It is to be noted that turmeric prices are rallying higher last week amid fear of low production this year. Turmeric growing regions of Telangana, Maharashtra, Karnataka are likely to have an adverse impact on the overall productivity of Turmeric.


Turmeric prices gained Rs 50 per Quintal in Basmatnagar for Gathha and Finger varieties each, amid arrivals of 2,000 bags vs 3,750 bags in the previous session. However, mandis of Sangli and Warangal witnessed stable trade amid arrivals of 2,000 bags and 100 bags respectively.


On NCDEX, turmeric April futures closed Rs 82 higher at Rs 6,380 and May futures settled Rs 106 per Quintal stronger at Rs 6,414 on Wednesday. Gathha and Finger varieties of turmeric surged Rs 100-200 higher in Nanded amid arrivals of 8,000 bags.


Traders reveal that recent rains in Telangana, Maharashtra, Karnataka in Turmeric growing regions are said to hurt the overall productivity of Turmeric due to standing water and higher moisture. Stockists are getting active and have started purchasing actively due to factors like decreasing sowing area and increasing demand.


Buying is expected to improve in the coming month, when the quality of the new crop improves.

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.

Commodity

Market

Variety

Price

Price

Prev_Price

Prev_Price

Change(Max Today-Prev Max)

Arrival

Turmeric

Nizamabad

Gattha

5900

6100

5800

6000

100

3000

Turmeric

Nizamabad

Finger

5900

6300

5800

6000

300

Turmeric

Nizamabad

D P Finger

7200

7300

6700

6800

500

Turmeric

Nizamabad

D P Gattha

7000

7100

6700

6800

300

2000

Turmeric

Basmatnagar

Gattha

5700

6500

6000

6450

50

Turmeric

Basmatnagar

Finger

5800

6400

6000

6350

50

Turmeric

Sangli

Kadapa

5600

5700

5600

5700

0

3000

Turmeric

Sangli

Rajapuri

6200

6700

6200

6700

0

Turmeric

Warangal

Gattha

4200

4300

4200

4300

0

Turmeric

Warangal

Finger

4400

4500

4400

4500

0

Turmeric

Erode

Finger

6500

6800

0

Turmeric

Erode

Gattha

5800

6200

0

3000

Turmeric

Hingoli.

Finger

5500

6995

5200

6800

195

1000

Turmeric

Nanded

Gattha

6200

6400

6100

6300

100

Turmeric

Nanded

Finger

6200

7200

6000

7000

200

8000



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