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Steady Tone Prevails In Turmeric Spot Markets

13 Sep 2017 5:27 pm
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MUMBAI (Commoditiescontrol) – Spot Turmeric prices on Wednesday ruled steady for the second consecutive day in the major markets across the country amid matching demand and supply.

On the other hand, Duggirala market remained closed today as traders and commission agents went on a strike against E-Nam (Electronic National Agriculture Market).

Market sentiments are strong in turmeric as limited stock is available in the market but the prices are very volatile as the buyers and sellers are only doing need based business activities and keeping a close eye on the auction dates which are yet to be announced by Markfed, as they earlier in the month of May procured 48,500 metric tonnes and have decided to sale this stock through E-market auctions.

On the other hand, Turmeric overall area is expected to decline this season due to scanty rainfall in major producing belts followed by farmers shifting to different commodity like Cotton, etc for better remuneration.

However, domestic demand for Turmeric is likely to pick up pace in coming weeks due to festival season.

Turmeric sowing report as per Andhra Pradesh Agriculture Department as on September 6 stood higher at 0.14 lakh hectares as compared to 0.12 lakh hectares same period last year.

On the other hand area in Telangana as on September 13, 2017 reported tad down at 0.45 lakh hectares as compared to 0.46 lakh hectares same period a year ago, as per Telangana Agriculture Department.

On futures October expiry Turmeric down by Rs.56 or 0.73% at Rs.7,660  on the National Commodity and Derivative Exchange Limited.

Turmeric stocks at the NCDEX accredited warehouses as on September 12 was recorded at 4,611 metric tonnes, as per exchange data.
 

Mandi

Sub_Var1

Arrival

Price

Prev_Arrival

Prev_Price

Basmatnagar

Best Selam:

 

8000/8400

 

8000/8400

Basmatnagar

Gattha

2000Bags(70kg)

8000/8500

1000-1500Bags(70kg)

8000/8500

Nizamabad

Gatha:

 

7600/7700

 

7600/7700

Nizamabad

Finger:

 

7900/8000

 

7900/8000

Nizamabad

Double Polished Finger:

2000Bags(70kg)

8600

1500Bags(70kg)

8600

Nizamabad

Double Polished Gatha:

 

8400

 

8400

Warangal

Gatha

300Bags(70kg)

6900/7100

200Bags(70kg)

6900/7100

Warangal

Finger

 

7000/7500

 

7000/7500


       
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