MUMBAI (Commmoditiescontrol) - In NCDEX July futures contract, turmeric price on 17th June 2019 stood at INR 6580 per quintal levels, which declined to INR 6326 per quintal levels, a decline of 3.8%.
The decline is attributed to supply pressure when the demand is limited. However, stock with farmers are very limited whereas stockiest holdings are visible. Henceforth, stockiest may not bring the material unless the price witness a hike. In coming days, rainfall will decide the price movements. Maharashtra is forecast to receive good rainfall in coming weeks.
During 17 – 21 June 2019, turmeric arrivals in Nizamabad stood at 4700 bags indicating declining arrival pressure. However, the price recovered slightly by INR 1-1.50 per kg, to INR 63 per kg levels (modal price).
Erode market received around 18,908 bags of turmeric during the week. Price declined by 3-4% as compared to last week which is attributed to poor buying activities due to quality issues. And the traders and stockiest are reluctant to sell the produce due to prevailing lower price levels.
Turmeric arrivals in Sangli market during the week stood at 23,314 bags. Price witnessed a decline of 2-3%. Rainfall is likely to benefit the soil moisture in coming days however, it is delayed by almost three weeks.
(By Commoditiescontrol Bureau)
0 Comments 
Post Comment 
