Turmeric Prices Remain Stable, NCDEX Futures Show Modest Recovery

New Delhi, December 03 (CommoditiesControl): Turmeric prices have largely remained stable across most markets, supported by the limited supply stemming from a lower crop in the previous season. Market sources indicate that the current crop is in good to excellent condition, with minimal weather-related issues. Harvesting is expected to begin next month, which is putting pressure on prices as stockists liquidate their remaining inventory ahead of the new crop’s arrival, while buyers are purchasing on a need basis.

Total arrivals for the day were reported at 7,350 bags, a decrease from 10,640 bags the previous day. Stockists are reportedly clearing out their stocks in anticipation of the new harvest, which is expected to begin in early January.

In the NCDEX markets, turmeric prices showed a slight recovery after a significant drop. The December contract saw a 0.4% increase, while the April contract rose by 0.05%. Despite this modest rise, market experts suggest that prices may remain range-bound in the short term as the December contract expiration approaches.

NCDEX Spot Prices (INR per Quintal)
- Nizamabad - NCDEX Polished: ₹14,000
- Nizamabad - NCDEX Unpolished: ₹13,355
- Sangli - NCDEX Rajapore: ₹15,800

NCDEX Futures Prices (INR per Quintal)
- Dec-24: ₹13,270 (+₹52, +0.4%)
- Apr-25: ₹14,320 (+₹6, +0.05%)

Looking ahead, turmeric prices are expected to continue their downward trend, especially as the expiration of the NCDEX futures contracts nears. The arrival of the new crop next month is likely to increase supply and exert further downward pressure on prices.

Turmeric contract for DEC delivery settled at Rs 13220/quintal showing an rise of Rs 2 over previous close of Rs 13218/quintal,The contract moved in the range of Rs 13000-13310 for the day. Open interest decreased by -320 MT to 8070 MT, while trading volume increased by 25 to 2125 MT.

Turmeric contract for APR delivery settled at Rs 14298/quintal showing an fall of Rs -16 over previous close of Rs 14314/quintal,The contract moved in the range of Rs 14110-14386 for the day. Open interest increased by 65 MT to 5815 MT, while trading volume increased by 160 to 1445 MT.

Currently The spread between DEC and APR contract is -1078 Rs/quintal. Turmeric stock in NCDEX accredited warehouse as on 3528, was 03-Dec-2024 MT.


(By Commoditiescontrol Bureau; +91 98201 3018)