Turmeric Ends Down More Than 2%

Prices of turmeric slumped further in the NCDEX counter as arrivals have improved in the domestic market of Erode and Nizamabad. The benchmark April delivery turmeric slipped by Rs. 316 or 3.08% to the session low of Rs. 9950 per 100 kg. The contract ended the session lower at Rs. 10,042, down Rs. 224 or 2.18% over the last close. The open interest dipped 3.68% to 5885 tonnes, indicating profit taking and the volume traded dipped to 1,600 tonnes from 3,555 tonnes.

Turmeric arrivals pickup in Erode and Nizamabad, futures drop on higher arrivals. Turmeric arrivals in the benchmark mandi toady were around 4,000 bags and prices quoted higher at Rs. 12,000 per 100 kg, up from Rs. 11,700 per 100 kg.

Arrivals in Erode in the state of Tamil Nadu gained to 12,000 bags from 8,000 bags and prices were quoting steady at Rs. 12,500 per 100 kg. Meanwhile, prices quoted steady in the Salem mandi around Rs. 13,000 per 100 kg.

In the Nanded mandi of Maharashtra, most of the varieties quoted steady tone for the consecutive sessions. Select quality quoted at Rs. 13,000 and the Powder quality quoted at Rs. 12,000 per 100 kg.

In Sangli mandi, Rajpuri quoted steady at Rs. 13,000-14,000 and desi Kadappa also quoted steady at Rs. 12,500 per 100 kg.

(Source: http://www.indiainfoline.com/Markets/News/Turmeric-Ends-Down-More-Than-2-percent-/3578189923)