Turmeric futures gain marginally

Our Bureau Updated - March 12, 2018 at 02:26 PM.

Turmeric futures on NCDEX gained 0.11 per cent at Rs 5,582 a quintal on Monday after it lost 2 per cent the whole of last week.

Commodity market regulator Forward Markets Commission had directed NCDEX to find out if there are any trades logged in to keep turmeric prices artificially low.

Higher stocks with the stockists also pressurised prices.

However, a reduction in the special cash margin to 20 per cent from 40 per cent on the buy side supported the prices whenever it dipped sharply.

Arrivals in Erode and Nizamabad spot market was at 4,000 bags and 1,000 bags respectively on Friday.

Turmeric production in 2011-12 is projected to rise sharply to 90 lakh bags (of 70 kgs each) compared to 69 lakh bags registered in the same period last year. Erode is expected to produce 55 lakh bags of turmeric, a rise of 29 per cent compared to previous year.

Published on October 8, 2012 07:39