Turmeric Futures Trade In Red On Rising Supply (15-Dec-2011)
Turmeric futures were trading mixed for third consecutive session on NCDEX. The contract for near month delivery was trading with negative bias owing to mounting supply of commodity in the domestic markets amidst reports of good crop. Huge carried forward stocks and record high production estimates are believed to be the reason for the bearish trend of the commodity. However, the exports that are expected to rise in coming weeks from Europe, US, West Asia and Japan, may provide some solace to the price of the commodity in near future.
The contract for December delivery was trading at Rs 4450.00, down by 3.47% or Rs 160.00 from its previous closing of Rs 4,610.00. The open interest of the contract stood at 12245 lots.
The contract for April delivery was trading at Rs 4488.00, up by 0.90% or Rs 40.00 from its previous closing of Rs 4,448.00. The open interest of the contract stood at 8695 lots on NCDEX.
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