Mumbai, June 27 (Commodities Control): Turmeric prices showed mixed trends in major markets. Prices rose in Basmatnagar, Nanded, and Kesamudram, while falling in Warangal and Cuddapah. Other markets remained relatively stable. Buyers and stockists are cautious, while end users purchase based on immediate needs, affecting prices.
Arrivals increased to 12,105 bags from 10,240 in the previous session, with Basmatnagar becoming operational today. The monsoon season has started in South India and Maharashtra, major turmeric-growing regions. Farmers expect significant acreage increases this season.
After a brief recovery over two sessions, turmeric prices in NCDEX markets fell slightly due to new selling activity.
- August contracts: down 0.6%
- October contracts: down 0.2%
Spot Prices (Rs/Qtl)
- Nizamabad - NCDEX Polished: 17,836
- Nizamabad - NCDEX Unpolished: 16,968
- Sangli - NCDEX Rajapore: 18,899
Future Prices (Rs/Qtl)
- August 2024: 17,400 (-112, -0.6%)
- October 2024: 18,332 (-32, -0.2%)
Traders' confidence remains low, keeping prices stable. The ongoing monsoon and expected acreage increase will be key factors to watch for future price movements.
Turmeric contract for AUG delivery settled at Rs 17400/quintal showing an fall of Rs -112 over previous close of Rs 17512/quintal,The contract moved in the range of Rs 17242-17776 for the day. Open interest decreased by -755 MT to 20380 MT, while trading volume increased by 1690 to 4220 MT.
Turmeric contract for OCT delivery settled at Rs 18332/quintal showing an fall of Rs -32 over previous close of Rs 18364/quintal,The contract moved in the range of Rs 18100-18682 for the day. Open interest increased by 1000 MT to 2605 MT, while trading volume increased by 1645 to 2600 MT.
Currently The spread between AUG and OCT contract is -932 Rs/quintal.
(By Commoditiescontrol Bureau: +91 9820130172)
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