Breaking News

You are here » Indian-Commodity  :  Commodities  :  Turmeric Futures Succumb To Selling Pressure

13-Apr2011

Turmeric Futures Succumb To Selling Pressure

Turmeric futures succumbed to selling pressure after witnessing massive gains past three consecutive sessions. The expectation of higher produce of the commodity this year amidst lower stocks and lower exports weighed on its prices as the turmeric production in the year 2010-11 is estimated to be at 69 lakh bags (1 bag = 70 kgs) compared to 48 lakh bags during the previous year.

The contract for April delivery was trading at Rs 10232.00, down by 0.93% or Rs 96.00 from its previous closing of Rs 10328.00. The open interest of the contract stood at 4650 lots.

The contract for May delivery was trading at Rs 9310.00, down by 1.02% or Rs 96.00 from its previous closing of Rs 9406.00. The open interest of the contract stood at 11800 lots on NCDEX.

Related News

View all news

BT Cotton Seeds Businesses Targeting Earnings Of Rs 700 Crore This Season

BT Cotton seeds organizations are targeting earnings of Rs 700 cr this season as a result of a rise ......

Gold Challenges To Maintain Earlier Increases As The Problems In Europe Prolongs

Gold prices surrounded reduce on Monday because the euro solved their deficits in opposition to the ......

Copper Seems To Lengthen Uptrend As Dollar Recoils

Copper rates were able to lengthen the uptrend for 3rd instantly period on Monday, as traders proved......

Top News

View all news

SRF, NIIT Technologies and United Bank of India to see some action today

SRF has entered into a definitive agreement to sell its Engineering Plastics Business to DSM, the Life Sciences and Materials Sciences Company in an all-cash transaction, amounting to Rs 320 crore. The......

NIIT Technologies concludes sale of 88.99% stake in ESRI India Technologies

NIIT Technologies has concluded the sale of 88.99% equity shares in ESRI India Technologies, India to Environment Systems Research Institute Inc., USA. Consequent to above sale, ESRI India Technologies,......

United Bank of India to raise Rs 1,500 crore by various means

United Bank of India has received approval to raise equity capital not exceeding Rs 1,500 crore in one or more tranches during the financial year by way of Qualified Institutions Placement, Public Issue,......