Mumbai, 2 June (Commoditiescontrol): Turmeric prices have witnessed a decline at Duggirala and Sangli due to thin demand tracking further fall by 2.8 in futures despite less arrivals.
Meanwhile, traders are closely monitoring the progress of the monsoon season. Conditions are favourable for further advance of Southwest Monsoon into some more parts of south Arabian Sea, Maldives & Comorin area, South Bay of Bengal, Eastcentral Bay of Bengal and some parts of Northeast Bay of Bengal during next 48 hours.
On other hand, Turmeric prices finger variety traded higher by Rs 500 per kg at Basmatnagar on regular buying in superior quality from north and export demand (Bangladesh).
Similarly, Finger variety Tur meric prices at Hingoli rose by Rs 200 per kg at Hingoli on outstation traders buying activity. While, Gatha variety declined by Rs 200 per kg amid average quality arrivals due to recent adverse weather.
As of June 01, 2023, the stock of polished Turmeric in the NCDEX accredited warehouse at Nizamabad remains unchanged at 1,324 metric tons from the previous day.
On other hand, the stock of Rajapore Turmeric in the NCDEX accredited warehouse at Sangli has increased to 2,240 metric tons, compared to the previous day's figure of 2,210 metric tons.
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Turmeric contract for JUN delivery settled at Rs 7742/quintal showing an fall of Rs -232 over previous close of Rs 7974/quintal,The contract moved in the range of Rs 7656-7980 for the day. Open interest was simillar by 0 MT to 10905 MT, while trading volume was simillar by 0 to 2765 MT.
Turmeric contract for JUL delivery settled at Rs 8030/quintal showing an fall of Rs -246 over previous close of Rs 8276/quintal,The contract moved in the range of Rs 7946-8242 for the day. Open interest was simillar by 0 MT to 4375 MT, while trading volume was simillar by 0 to 2265 MT.
Currently The spread between JUN and JUL contract is -288 Rs/quintal.
(By Commoditiescontrol Bureau: 09820130172)
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