Commodities

Profit-taking caps turmeric futures’ gains

Suresh P. Iyengar Mumbai | Updated on March 12, 2018 Published on July 18, 2012

Turmeric output this year is expected to fall by 30 per cent due to lower rains in growing regions.

Turmeric futures on the National Commodity and Derivatives Exchange Ltd gained 0.22 per cent to Rs 5,278 a quintal. Consistent profit-booking at higher levels capped major gains.

Reports of rainfall at Nizamabad in Andhra Pradesh and parts of Tamil Nadu may benefit the upcoming turmeric crop. This development may lead to a fall in prices.

Overall, turmeric output this year is expected to fall by 30 per cent due to lower rains in growing regions. The area under cultivation may also come down as farmers shift acreage to other remunerative crops.

Spot prices were quoted at Rs 4,800 a quintal at Nizamabad. Arrivals were at about 4,000 bags.

Published on July 18, 2012
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