International Spice Commodities Update – Turmeric

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Turmeric futures traded mixed by taking cues from the price movement in the spot market. Spot prices of the ‘finger variety’ in Erode were largely unchanged at Rs.4200 ($85.01, €64.55, £54.07) per 100 kg. Arrivals were around 7500 bags, up from around 7000 bags last Tuesday. Arrivals included around 5000 bags of new crop. The traders quoted better prices for Mysore and Salem varieties.

Turmeric futures are likely to rise because of good domestic demand and fall in daily arrivals.  As per market source, the  growers were holding their stocks expecting a further rise in prices. However, the arrivals are expected to increase further as the farmers are likely to bring more stocks due to better prices quoted in the market.

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