New Delhi, June 19 (Commoditiescontrol): Turmeric prices showed a mixed trend across major markets, with declines in Erode and Kesamudram, and increases in Hingoli and Sangli. Prices in other centers remained stable. Market sources indicate that buyers and stockists are exercising caution, while end users continue to make purchases based on immediate needs. The spot markets received support from lower arrivals.
Today's arrivals decreased to 11,169 bags from 9,380 in the previous session, with most markets open. Market participants predict a 20-25% reduction in production this season compared to last year, leading to consistently lower arrivals throughout the season.
Meanwhile, monsoon activity has been favorable in key turmeric-growing districts in South India and Maharashtra. Farmers expect a significant increase in acreage this season.
Following a moderate recovery in the past 2-3 sessions, turmeric prices on the NCDEX were mostly stable to higher. Prices remained stable for August contracts while rising by 0.8% for October contracts.
NCDEX Spot Prices (INR/Qtl)
- Nizamabad: Polished: Rs 18,220; Unpolished: Rs 17,307
- Sangli: Rajapore: Rs 19,423
NCDEX Future Prices (INR/Qtl)
- August 2024: Rs 18,350 ( -4, -0.02%)
- October 2024: Rs 19,238 ( +158, +0.8%)
The mixed spot prices reflect varied local market conditions, while the stable to slightly higher futures prices suggest cautious optimism among traders about future demand.
Turmeric contract for JUN delivery settled at Rs 17966/quintal showing an rise of Rs 540 over previous close of Rs 17426/quintal,The contract moved in the range of Rs 17900-18096 for the day. Open interest decreased by -10 MT to 10 MT, while trading volume decreased by -90 to 0 MT.
Turmeric contract for AUG delivery settled at Rs 18350/quintal showing an fall of Rs -4 over previous close of Rs 18354/quintal,The contract moved in the range of Rs 18052-18400 for the day. Open interest decreased by -350 MT to 21050 MT, while trading volume decreased by -855 to 1965 MT.
Currently The spread between JUN and AUG contract is -384 Rs/quintal.
(By Commoditiescontrol Bureau: +91 9820130172)
0 Comments 
Post Comment 
