On Monday, turmeric continued its week-long winning streak and added another 2.76 per cent on the National Commodity and Derivatives Exchange (NCDEX) on the back of firming trend in spot markets on good demand on account of festive season amid lower stocks. However, profit-booking following imposition of an additional special margin of 10 per cent by the NCDEX, capped gains in turmeric prices.
Turmeric for August contract notched up another 2.76 per cent at Rs 7,749 per quintal at the NCDEX counter. The contract has an open interest of 21,600 lots and delivery in September-month contract added 2.40 per cent at Rs 7,500 per quintal, in an open interest of 18,150 lots. Analysts attributed the persistent rise in turmeric prices in futures trade to firming trend in the spice prices at spot markets following strong festive demand and lower stocks this year.
Turmeric for August contract notched up another 2.76 per cent at Rs 7,749 per quintal at the NCDEX counter. The contract has an open interest of 21,600 lots and delivery in September-month contract added 2.40 per cent at Rs 7,500 per quintal, in an open interest of 18,150 lots. Analysts attributed the persistent rise in turmeric prices in futures trade to firming trend in the spice prices at spot markets following strong festive demand and lower stocks this year.
No comments:
Post a Comment