The Hindu Business Line : Turmeric futures gathering pace: MCX

Coimbatore, Sept. 4 The futures trading in turmeric since its re-launch from June last at Multi Commodity Exchange of India Ltd (MCX) has steadily picked up momentum with the daily turnover at around Rs 15 crore. Its open interest was around 3,500 tonnes on August 29, a seminar on futures trading in turmeric held here on Tuesday was told.

Currently, the contract is based on ex-Nizamabad variety, though other varieties such as Rajapore, Salem, Warangal, Erode, Duggirala and Cudappa are also being accepted according to the relative premium or discount rate to the basic variety, speakers at the seminar informed participants.

Turmeric futures are compulsory delivery contract that expires on 20th of the contract month, according to a communication from MCX.

Maharashtra, Orissa, Karnataka, Tamil Nadu and Kerala are major producers of turmeric, but Andhra Pradesh leads in terms of both acreage and output with the country’s main turmeric variety ‘Nizamabad bulb’ coming from that State.

Today’s seminar attracted over 200 participants largely turmeric traders/suppliers, growers and other members in the turmeric supply chain including the processors and retailers.

More Stories on : Spices & Condiments | Commodity Markets

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Power trading a big draw among private players

NCDEX to extend delivery period for agri-commodities

Migrating trough drives rains to East India

The other side of micro-finance

Varied uses

Rs 1,500-crore corpus mooted for Plantation Development Bonds

Karnataka unveils relief package for areca farmers

Mixed trend in spot rubber

Sugar barons accumulate cane arrears

Sugar mills unlikely to get fresh credit from banks

Recovery orders to 14 mills on cane arrears

Major world tea producers to join hands

Turmeric futures gathering pace: MCX

Pepper futures gain