Login ID:
Password:
Partner Login
Contact Us : 7066511911

Spot Turmeric Settles Steady at Apex Mandis, Futures End in Red on Weekend Profit booking

26 Feb 2021 5:50 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

Mumbai Commodities Control - Spot prices of turmeric took a breather on Friday, as the varieties settled generally steady across the major mandis in the country. Finger variety of turmeric touched Rs 10,000 per Quintal level in Basmatnagar on Thursday.

Turmeric futures surged close to 13% until Thursday, while it cracked lower and ended in red on Friday. The rise in the golden spice, thus far, is attributed to increasing demand and fears of lower output in the spot markets.


The apex Nizamabad mandi registered steady price rise today amid unchanged arrivals of 20,000 bags.


It is to be noted that Turmeric has surged past Rs 9,000/Quintal in Erode this week, however Gathha and Finger varieties gave up Rs 100-300/Quintal on Friday amid arrivals of 3,000 bags vs 2,300 bags. Kadappa variety of turmeric in Sangli gained Rs 100/Quintal today amid arrivals of 14,700 bags.

After four consecutive sessions of northward price rally, the April contract of turmeric on the National Commodity and Derivatives Exchange slipped into red to close at Rs 8,284. On Thursday, most-active futures settled in green after touching highs of Rs 8752/Quintal. The price rise, thus far, has been attributed to the anticipation of a smaller crop this season in some key growing regions of Maharashtra and Tamil Nadu that are likely to reduce yield.


Turmeric farmers hope for a brighter future with prices increasing steadily after a gap of nine years. They expect prices of the yellow spice to surge past Rs 12,000/ Quintal on account of growing demand.


There’s a huge demand for Erode turmeric from Bangladesh, Singapore, Malaysia, US, UK and the Gulf countries. Merchants reveal that there is a 40% increase in export compared to the previous years.


Technical analysts note that Turmeric April’21 on NCDEX is expected to remain on an upward trajectory. More near-term upside is probable with a potential upside of Rs 9,000/Quintal.

Commodity

Market

Variety

Price

Price

Prev_Price

Prev_Price

Change(Max Today-Prev Max)

Arrival

Turmeric

Nizamabad

Gattha

7300

7500

7300

7500

0

20000

Turmeric

Nizamabad

Finger

7200

7800

7200

7800

0

Turmeric

Nizamabad

D P Finger

8500

8600

8500

8600

0

Turmeric

Nizamabad

D P Gattha

8400

8500

8400

8500

0

Turmeric

Basmatnagar

Gattha

8700

8800

8700

8800

0

3500

Turmeric

Basmatnagar

Finger

8000

10000

8000

10000

0

Turmeric

Sangli

Kadapa

7700

7800

7000

7700

100

14700

Turmeric

Sangli

Rajapuri

8700

9200

8400

9200

0

Turmeric

Erode

Finger

8600

8800

8900

9100

-300

3000

Turmeric

Erode

Gattha

8000

8200

8000

8300

-100

Turmeric

Nanded

Gattha

7800

8200

7800

8200

0

5500

Turmeric

Nanded

Finger

7600

8350

7600

8350

0



       
  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
Spot Coriander Crumbles Under Weak Demand amid Navratri...
Turmeric Futures Cracks Heavily Lower amid Lack of Spot...
Spot Jeera Rises Rs 20/20Kgs in Rajkot, Steady in Unjha...
Spot Coriander Prices Decline amid Lack of South Indian...
Turmeric Futures Ends in Green on Short covering, Major...
more
Top 5 News
Punjab Sugar Mill Prices – 14 april 2021
Madhya Pradesh Sugar Mill Prices – 14 APRIL 2021
Gujarat Sugar Mill Prices –14 april 2021
MAHARASHTRA Sugar Mill Prices – 14 APRIL 2021
Uttar Pradesh Sugar Mill Prices -14 APRIL2021
Top 5 Special Reports
Cotton Yarn Prices to Resume Northward Rally; Expanding...
Weekly: Most Pulses Rise Over the Week Amid Mill Purcha...
Weekly: NY Cotton Gains For the First Time in Seven We...
Weekly: NY Sugar Ends Positive on Brazil Weather Concer...
Chana Special: Lower Production & Carry Forward Stocks ...
Copyright © CC Commodity Info Services LLP. All rights reserved.