Turmeric futures gained 4 per cent to Rs 6,608 a quintal on Monday, even a trading activity in most spot market was lacklustre. Prices in Nizamabad spot market was much lower at Rs 5,600 a quintal.

Low inventory at most exchange accredited warehouses had triggered sharp rise in prices in the futures market.

As per NCDEX circular, no fresh positions will be allowed in the near month turmeric contract till it expires on August 16.

Only squaring up of existing positions will be allowed. The financial gains made by taking fresh position in violation of the above directives will not be payable to the violator but will instead be deposited in the Investor Protection Fund, said the circular. Besides, penalty will be levied on violators, it added.

Turmeric futures are expected to fall due to profit booking and curbs imposed by the exchange.

(This article was published on August 7, 2012)
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