Mumbai, May 3 (CommoditiesControl): Turmeric prices in major spot markets remained largely stable, except for Basmatnagar and Nanded, where prices experienced a slight decline ranging between Rs 500 and Rs 700 per quintal. Overall, demand was reported to be robust, driven by increased purchasing activity among stockists and end users. However, the upward trend of prices has kept export demand subdued.
Arrivals surged to 32,918 bags from 27,000 bags in the previous session, primarily due to higher arrivals across all markets and the reopening of all markets.
In contrast, turmeric futures prices in the NCDEX market witnessed a decline after maintaining stability for the past 2-3 sessions. Following a period of narrow trading range over the previous 8-10 sessions, prices experienced a sharp decline, with a 1.6% decrease in the June contract and a 1.4% decrease in the August contract. Despite this decline, NCDEX futures prices are expected to find support in the coming days.
NCDEX Spot Prices (Rs/Qtl):
- Nizamabad - NCDEX Polished: 17,750
- Nizamabad - NCDEX Unpolished: 16,821
- Sangli - NCDEX Rajapore: 19,088
NCDEX Future Prices (Rs/Qtl):
- Jun-24: 18,852 (-302, -1.6%)
- Aug-24: 19,324 (-266, -1.4%)
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