Wednesday, February 16, 2011
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Turmeric ends higher on extended buying
Turmeric futures turned higher on improved buying interest in the counter. Spot prices remained weak and arrivals in erode and Nizamabad was reported at 7000 and 8000 bags respectively.
North Indian buyers as well as bulk dealers adopted cautious approach in procurement on expectation that arrival sentiments may impact further decline in prices.
Production is expected on the higher side due to increased acreage of cultivation due to good monsoon and better prices.
Production in 2011 is expected around 65-70 lakh bags compared with 45 lakh bags in the last year.
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