Agri-Commodities: Turmeric surges; chana slides

Turmeric prices were trading up by 0.46 per cent to Rs 6,526 per quintal in futures trade Wednesday as participants built up fresh positions, mainly driven by uptick in domestic and export demand in the spot market.

Besides, limited arrivals from major producing regions fuelled the uptrend.

At the National Commodity and Derivatives Exchange, turmeric for delivery in December month was trading higher by Rs 30, or 0.46 per cent, to Rs 6,526 per quintal with an open interest of 1,195 lots.


Similarly, the spice for delivery in November month increased by Rs 18, or 0.28 per cent, to Rs 6,526 per quintal, in an open interest of 12,490 lots.

Analysts said fresh positions created by participants following pick up in domestic as well as export demand in the spot market against restricted supplies from producing regions mainly pushed up turmeric prices in futures trade.

Chana
Chana prices declined by 0.34 per cent to Rs 4,084 per quintal in futures market Wednesday as speculators booked profits amid ample stocks position at the spot market against low demand.

At the National Commodity and Derivatives Exchange, chana for delivery in November fell by Rs 16, or 0.34 per cent, to Rs 4,084 per quintal with an open interest of 43,980 lots.

Likewise, the commodity for delivery in December shed Rs 11, or 0.27 per cent to Rs 4,102 per quintal in 10,680 lots.

Marketmen said besides profit booking by traders at existing levels, fall in demand in physical market against adequate stocks position on increased arrivals from producing belts mainly attributed the slide in chana prices at futures trade.