Mumbai, January 21 (CommoditiesControl): Turmeric spot prices have shown a steady to firm sentiment across key markets. In Erode and Basmatnagar, prices were reported higher by Rs 100-500 per quintal, while other markets saw stable prices. Lower yields from the recently harvested crops are supporting the price firmness, and the peak harvest, which is expected in about a month, may keep prices within a wide range due to limited supply during this period.
Total arrivals were reported at 8,250 bags today, down from 10,260 bags in the previous session, with some markets seeing lower arrivals. However, with the new crop coming in, arrivals are expected to increase in the coming sessions, which may affect price dynamics.
In the NCDEX market, turmeric prices saw a recovery following last week's decline. The April contract increased by 2.6%, while the May contract ended 2.7% higher, reflecting strong buying interest from lower price levels.
Overall, spot prices were reported to be stable to higher, with futures prices adding support. However, as the new crop starts arriving, the market may experience pressure, potentially weighing on prices in the short term.
Turmeric contract for APR delivery settled at Rs 14400/quintal showing an rise of Rs 370 over previous close of Rs 14030/quintal,The contract moved in the range of Rs 13980-14400 for the day. Open interest increased by 15 MT to 11335 MT, while trading volume increased by 420 to 1405 MT.
Turmeric contract for MAY delivery settled at Rs 14352/quintal showing an rise of Rs 384 over previous close of Rs 13968/quintal,The contract moved in the range of Rs 14010-14352 for the day. Open interest increased by 55 MT to 695 MT, while trading volume decreased by -10 to 145 MT.
Currently The spread between APR and MAY contract is 48 Rs/quintal.
Turmeric stock in NCDEX accredited warehouse as on NA, was 21-Jan-2025 MT
(By Commoditiescontrol Bureau: +91 9820130172)
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