MUMBAI (Commoditiescontrol)27 Jan:- Turmeric prices fall at Erode amid increased arrival.
Prices for Turmeric decreased by Rs 200 per kg at the benchmark market of Erode amid increased arrivals. There were 4300 bags arrived at the market yards, about 900 bags more than the prior session.
The price of the commodity fell as the inflow rose, traders said.
Similar trends were seen in Duggirala market place. The market were stable as there were lower arrival. About 100 bags less received than in the previous session. Arrival for today were 200 bags.
The price of a kg decreased by Rs 100 in Nizamabad. Here arrivals stood at 3500. The rise in arrivals caused a decrease in turmeric prices.
The Warangal market witnessed arrival of a new crop Turmeric. Here 20 bags have arrived.
Nanded market in Maharashtra, eitnessed a fall of Rs 200. The decline in prices was largely influenced by softer tone at NCDEX derivative markets. Today's arrival at Nanded is 900 bags.
The Hingoli market remained stable amid arrivals of 3,000 bags.
Turmeric contract for April delivery settled at Rs 7380/quintal showing an fall of Rs -364 over previous close of Rs 7744/quintal,The contract moved in the range of Rs 7304-7790 for the day. Open interest increased by 770 MT to 13260 MT, while trading volume increased by 1815 to 3925 MT.
Turmeric contract for May delivery settled at Rs 7448/quintal showing an fall of Rs -382 over previous close of Rs 7830/quintal,The contract moved in the range of Rs 7402-7690 for the day. Open interest increased by 55 MT to 1440 MT, while trading volume decreased by -125 to 395 MT.
Currently The spread between April and May contract is 68 Rs/quintal.
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