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21-Apr2011

Turmeric Futures Edge Lower On Sluggish Demand

Turmeric futures edged lower due to sluggish domestic demand and on arrival pressure from the fresh crop. As per trade estimates, around 50% of new crop have been dumped to the market and further 50% are likely to arrive by may end. Meanwhile, as per trade sources, farmers are bringing more and more produce to market as they are expecting prices might go further down which is pressurizing the prices.

The contract for May delivery was trading at Rs 8740.00, down by 0.68% or Rs 60.00 from its previous closing of Rs 8800.00. The open interest of the contract stood at 15040 lots.

The contract for May delivery was trading at Rs 8610.00, down by 0.53% or Rs 46.00 from its previous closing of Rs 8656.00. The open interest of the contract stood at 6610 lots on NCDEX.

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