Indian turmeric, the yellow spice much in demand in world markets, may turn dearer in coming days as acreage is predicted to fall this season and stockists are buying more quantities expecting higher prices.
At National Commodity and Derivatives Exchange (NCDEX), Turmeric July futures rose 7.5% to Rs 4300 per 100 kg till Wednesday this week before falling 1.67% to 4232 on Thursday trade on profit taking.
India’s delayed South West monsoon which runs from June to September is causing concern for turmeric growers as it could delay sowing.
In spot markets, turmeric is witnessing an uptrend on active buying by stockists in expectation of higher prices. In Erode market in South Indian state of Tamil Nadu, good quality turmeric prices rose by Rs 100 per 100 kg with almost sixty percent of the arrivals sold.
Arrivals were reported at 10,560 bags most of which were fine variety. Markets traded at Rs 2300 to Rs 3900 range. In Nizamabad prices rose to Rs 3682 per 100 kg.
[ News Source ]
At National Commodity and Derivatives Exchange (NCDEX), Turmeric July futures rose 7.5% to Rs 4300 per 100 kg till Wednesday this week before falling 1.67% to 4232 on Thursday trade on profit taking.
India’s delayed South West monsoon which runs from June to September is causing concern for turmeric growers as it could delay sowing.
In spot markets, turmeric is witnessing an uptrend on active buying by stockists in expectation of higher prices. In Erode market in South Indian state of Tamil Nadu, good quality turmeric prices rose by Rs 100 per 100 kg with almost sixty percent of the arrivals sold.
Arrivals were reported at 10,560 bags most of which were fine variety. Markets traded at Rs 2300 to Rs 3900 range. In Nizamabad prices rose to Rs 3682 per 100 kg.
[ News Source ]
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