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Turmeric futures recover on tight stocks in spot markets

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Press Trust of India New Delhi
Last Updated : Jan 20 2013 | 1:30 AM IST

Supported by lower availability of stocks and good demand in spot markets, turmeric futures prices recovered by 0.52 per cent to Rs 9,580 per quintal.

However, estimates of higher estimates, capped the gains.

At the National Commodity and Derivatives Exchange counter, turmeric for delivery in April traded Rs 50, or 0.52 per cent higher at Rs 9,580 per quintal.

Similarly, the spice for delivery in May rose by Rs 42, or 0.45 per cent to Rs 9,400 per quintal.

Market analysts said tight stocks against rising demand in spot markets, helped turmeric futures to trade higher but estimates of higher output restricted gains.

"Shortage of stocks in spot markets, as fresh crop will reach the market in January next year, influenced turmeric futures prices," said an analyst.

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First Published: Nov 30 2010 | 1:39 PM IST

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