Turmeric futures hits lower circuit of 2 pc
Turmeric futures hit the lower level of two per cent on the NCDEX counter today due to sluggish supply and demand in the physical market.
By PTI |
NEW DELHI: Turmeric futures hit the lower level of two per cent on the NCDEX counter today due to sluggish supply and demand in the physical market.
At 1200 hrs, October contract slipped by two per cent to Rs 3,970 per quintal, while December contract by 1.98 per cent at Rs 4,101 per quintal.
Poor arrivals amid lacklustre demand both from domestic and global buyers lead to fall in prices, an analyst with Karvy Comtrade told PTI.
However, prices are expected to move upward after monsoon season ends and festive demand begins next month, she said.
Currently, spot prices at Nizamabad in Andhra Pradesh were ruling weak at Rs 4,078 per quintal.
August contract, which expired yesterday, settled at Rs 4,078.15 per quintal.
Nevertheless for near-term, the underlying sentiment is strong due to reports of lower production estimates, traders said.
At 1200 hrs, October contract slipped by two per cent to Rs 3,970 per quintal, while December contract by 1.98 per cent at Rs 4,101 per quintal.
Poor arrivals amid lacklustre demand both from domestic and global buyers lead to fall in prices, an analyst with Karvy Comtrade told PTI.
However, prices are expected to move upward after monsoon season ends and festive demand begins next month, she said.
Currently, spot prices at Nizamabad in Andhra Pradesh were ruling weak at Rs 4,078 per quintal.
August contract, which expired yesterday, settled at Rs 4,078.15 per quintal.
Nevertheless for near-term, the underlying sentiment is strong due to reports of lower production estimates, traders said.
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