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04-May2011

Turmeric Futures Witness Sharp Decline

Turmeric futures are witnessing sharp decline on Wednesday, extending their correction mood due to heavy arrival pressure, higher stocks and low export demand; though traders are waiting for exports to pick up in coming weeks at these low levels and then the prices can be expected to improve.

The contract for May delivery was trading at Rs 8474.00, down by 1.74% or Rs 150.00 from its previous closing of Rs 8624.00. The open interest of the contract stood at 13720 lots.

The contract for June delivery was trading at Rs 8356.00, down by 1.04% or Rs 88.00 from its previous closing of Rs 8444.00. The open interest of the contract stood at 7330 lots on NCDEX.

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