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MUMBAI (Commoditiescontrol) - From 11th to 15th March 2019, Nizamabad market has received cumulative arrivals of 133,000 bags.
During the week, the price of finger (unpolished variety) remained unchanged at INR 45-62 per kg levels, modal price INR 55 per kg levels. From 40,000 bags arrivals on Monday, it has declined to 20,000-25,000 bags due to limited upcountry demand.
Erode Turmeric has received GI (Geographical Indication) tag a week ago. From March 11-15, Erode market received
26,517 bags of arrivals. On Friday (15th March), Open market received around 6024 bags as compared to 3953 bags in previous day, indicating the start of peak arrivals. At present, the price of finger turmeric in open market is ranging between INR 50 and 80 per kg levels, which may witness a slight correction on arrival pressure from next week onwards.
During the week, total arrivals of turmeric in Sangli market stood at 120,000 bags in which 101,738 bags are sold out. At present, peak arrival is in good phase coupled with good export demand for Rajapore finger variety.
Turmeric NCDEX April-2019
Last week turmeric futures April contract was traded in the region of INR 6488 and INR 6212 and finally settled at INR 6248.
Turmeric may face pressure at higher levels around INR 6350-6400 levels and unlikely to sustain above.
As we rightly mentioned in the next couple of weeks turmeric may test the contract low INR 6150-6100 and below to drop till INR 5900-5800.
(By Commoditiescontrol Bureau)
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