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07-Sep2016

Turmeric futures trade lower on NCDEX

Turmeric futures traded lower on NCDEX on account of fall in physical demand at the spot market. Further, prospects of better crop this season due to increased sowing following favorable weather condition in the turmeric growing areas too fuelled the downtrend. In Telangana, as on August 31, acreage rose to 46,000 hectares as compared to 39,000 hectares last year. However it was down in Andhra Pradesh at 10,000 hectares versus 12,000 hectares a year ago.

The contract for September delivery was trading at Rs 6788.00, down by 0.82% or Rs 56.00 from its previous closing of Rs 6844.00.The open interest of the contract stood at 12230 lots.

The contract for October delivery was trading at Rs 6928.00, down by 0.40% or Rs 28.00 from its previous closing of Rs 6956.00. The open interest of the contract stood at 12410 lots on NCDEX.


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