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Turmeric Spot Prices Show Weak Trend; NCDEX Prices Decline Again

19 Jul 2024 5:47 pm
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Mumbai, July 19 (CommoditiesControl): After a brief recovery spanning two sessions, turmeric prices in the NCDEX markets have once again fallen due to fresh selling activity. Prices are currently at a crucial juncture, with October contracts dropping by 2.2% and August contracts decreasing by 2.0%.

In major spot markets, turmeric prices were reported to be steady to weak. Prices fell by Rs 100-200 per quintal in some centers while remaining stable in others. Local sources indicate that buyers are adopting a hand-to-mouth approach, which is keeping prices in check. Additionally, export demand has remained low for the seventh consecutive month, adding further pressure to prices.

Arrivals were reported at 11,926 bags, down from 12,298 bags in the previous session, though arrivals were significantly higher in Hingoli. According to farmers, there is a slight expected increase in acreage as prices continue their downward trend, prompting farmers to opt for Tur in some regions.

NCDEX Spot (Rs/Qtl)
Nizamabad - NCDEX Polished - 16,370
Nizamabad - NCDEX Unpolished - 15,501
Sangli - NCDEX Rajapore - 17,900

NCDEX Future (Rs/Qtl)
Oct-24 - 16,532 (-348, -2.2%)
Aug-24 - 15,870 (-334, -2.0%)

Turmeric contract for AUG delivery settled at Rs 15870/quintal showing an fall of Rs -348 over previous close of Rs 16218/quintal,The contract moved in the range of Rs 15800-16080 for the day. Open interest increased by 25 MT to 19640 MT, while trading volume decreased by -3210 to 1665 MT.

Turmeric contract for OCT delivery settled at Rs 16532/quintal showing an fall of Rs -334 over previous close of Rs 16866/quintal,The contract moved in the range of Rs 16488-16720 for the day. Open interest increased by 85 MT to 8235 MT, while trading volume decreased by -2315 to 555 MT.

Currently The spread between AUG and OCT contract is -662 Rs/quintal.

Turmeric stock in NCDEX accredited warehouse as on 10396, was 19-Jul-2024 MT

(By Commoditiescontrol Bureau: +91 9820130172)







       
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