Mumbai, June 14 (Commodities Control): Turmeric prices remained mostly stable to firm across the markets, driven by strong buying activity at lower price levels. Sources indicate that buyers and stockists have been cautious, while end users continue to purchase based on their needs.
Arrivals increased to 13,280 bags from 12,647 in the previous session, with most markets open today. Market participants predict a 20-25% reduction in production this season compared to last year, leading to lower arrivals throughout the season.
After a range-bound movement over the previous 4-5 sessions, turmeric prices in NCDEX markets recovered moderately due to strong buying activity. Prices rose by 1.0% in August contracts and 1.8% in October contracts.
NCDEX Spot Prices (Rs/Qtl):
- Nizamabad - NCDEX Polished: Rs 18,175
- Nizamabad - NCDEX Unpolished: Rs 17,217
- Sangli - NCDEX Rajapore: Rs 19,324
NCDEX Future Prices (Rs/Qtl):
- Aug-24: Rs 18,230 (+184, +1.0%)
- Oct-24: Rs 19,004 (+342, +1.8%)
Turmeric contract for JUN delivery settled at Rs 17402/quintal showing an fall of Rs -20 over previous close of Rs 17422/quintal,The contract moved in the range of Rs 17326-17608 for the day. Open interest decreased by -340 MT to 90 MT, while trading volume decreased by -4090 to 55 MT.
Turmeric contract for AUG delivery settled at Rs 18230/quintal showing an rise of Rs 184 over previous close of Rs 18046/quintal,The contract moved in the range of Rs 17840-18250 for the day. Open interest increased by 90 MT to 21200 MT, while trading volume decreased by -4670 to 2085 MT.
Currently The spread between JUN and AUG contract is -828 Rs/quintal.
(By Commoditiescontrol Bureau: +91 9820130172)
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