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27-Apr2011

Turmeric Futures Edge Low On Slow Domestic Demand

Turmeric futures edged lower due to lethargic national requirement and on coming burden from the new crop. As per trade estimations, around 50% of latest crop have been eliminated to the current market and additional 50% are more likely to appear by May ending. Meanwhile, according to industry resources producers are getting a lot more produce to market place as they are thinking rates may go more downward which is pressurizing the costs.

The contract for May delivery was dealing at Rs 8926.00, lower by 1.33% or Rs 120.00 from the most recent ending of Rs 9046.00. The open interest of the contract was standing at 13685 lots.

The contract for June delivery was stock trading at Rs 8680.00, up by 1.03% or Rs 90.00 from the recent ending of Rs 8770.00. The open interest of the contract was standing at 6535 lots on NCDEX.

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