Spot prices at Nizamabad and Erode were quoted at lower rates amidst lower offtakes on Thursday.
Arrivals at the domestic mandis are around 6000 bags and 600 bags at the Erode and Nizamabad mandis respectively.
Prices in the futures traded in sideways to up manner in the beginning of session and but shredded earlier gains of the previous days and hit the lower circuit of 2% and below and closed the session negatively on Thursday.
Demand from the overseas is lacklustre due to high quotes. Demand from the north India is present in good quantity. Domestic consumption of turmeric stands at around 3.5 lakh bags (each bag weighs 70kgs)
Turmeric stocks with the stockists and farmers are around 9-10 lakh bags until the fresh crop arrivals in January 2010.
Courtesy: Angel Commodities
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