Turmeric prices have improved amid low arrivals to the main spot markets. Expectation of improved overseas demand and lower production estimates have also supported the prices. Turmeric output is estimated to be at 7.5 lakh tonnes in the current season against 8.9 lakh tonnes a year ago.
However, the arrival of monsoon might help the farmers to expand the acreage under turmeric cultivation, which limits the gains.
Turmeric was quoted at Rs 4024 a quintal in the Nizamabad spot market, up Rs 2.
The most active August contract of turmeric in NCDEX has traded in the range Rs 4281 – 4342 a quintal after opening at Rs 4300, and was last quoted at Rs 4323, up 0.21 % at 13:40 IST.
Tuesday, June 17, 2008
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