Mumbai, December 11 (CommoditiesControl): Turmeric prices in major spot markets have remained mostly stable, with prices unchanged in the majority of centers. However, prices saw an increase in Duggirala and Basmatnagar due to a reduction in arrivals.
Market participants report that demand remains low, as harvesting is expected to begin soon, and stockists are liquidating inventory in anticipation of the new crop. The crop is said to be in good to excellent condition, with few weather anomalies, and harvesting is set to commence next month, which is expected to put downward pressure on prices in the coming weeks.
Arrivals for the day totaled 10,230 bags, a significant increase from the 4,950 bags seen the previous day, as most markets in Maharashtra resumed operations. Despite this uptick, limited supplies are expected in the days ahead as the harvest season approaches, leading to lower arrival rates.
In the NCDEX futures market, prices have started to fall again, particularly as the December contract nears expiry. The April contract fell by 0.5%, while the December contract dropped by 0.6%. As the expiration date for the December contract approaches, experts anticipate that prices could decline further in the coming sessions.
Spot market prices, however, are expected to remain stable, with a slight downward bias due to limited supply until the new crop arrives. As new crop arrivals begin next month, the overall trend is expected to continue, with prices likely to face downward pressure.
NCDEX Spot Prices (Rs/Qtl):
- Nizamabad - NCDEX Polished: Rs 13,748
- Nizamabad - NCDEX Unpolished: Rs 13,106
- Sangli - NCDEX Rajapore: Rs 15,936
NCDEX Future Prices (Rs/Qtl):
- Dec-24: Rs 13,060 (-72, -0.6%)
- Apr-25: Rs 13,962 (-76, -0.5%)
