| Turmeric....06.03.2014 |
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Turmeric futures ended weak as the spot market in
Nizamabad remained closed because continuous rains
disrupted trading activities. The market will resume
operations on Monday. The price is likely to be under
pressure due to prospects of rise in arrivals in major
spot markets in coming days. Meanwhile, traders are
expecting total turmeric production in the range of 40-45
lakh bags (1bag=70kg) against 70 lakh bags in the
previous year. Added, total carryover stocks of turmeric
at the beginning of the December have been reduced to
27-28 lakh bags against 42 lakh bags reported same
period last year. As per market source, turmeric
production in Andhra Pradesh in 2013-14 is estimated to
be 424000 tonnes as against 439000 tonnes year ago.
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