TURMERIC FUTURES EXHIBIT MIXED TREND
DATE: 17/07/2012
Turmeric futures were exhibiting mixed trend for second consecutive
session on NCDEX. The commodity for near term future edged lower on profit
booking as hopes that slow progress of the monsoon, could hit sowing operations
and crop output, led to the run up rally of the commodity. However, the far
term contract was trading in green on expectation of lower produce of Turmeric
in the current season. The total area under cultivation in India, the world's
biggest producer and exporter of the yellow spice, is likely to dwindle by 30
percent this season.
The contract for July delivery was trading at Rs 4954, down by 0.12% or Rs
6 from its previous closing of Rs 4960.00. The open interest of the contract
stood at 535 lots.
The contract for August delivery was trading at Rs 5318, up by 0.49% or Rs
26 from its previous closing of Rs 5292.00. The open interest of the contract
stood at 19300 lots on NCDEX.
POWERED BY: COMMODITY INSIGHTS
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