Spot prices at Nizamabad and Erode were quoted at steady rates amidst regular offtakes on Thursday.
Arrivals in the domestic mandis have declined to 4000 bags in Erode and the supplies in Nizamabad are being catered through gowdowns.
Prices at the futures traded in rangebound manner since the beginning of the session and settled lower on Thursday.
Advancement of monsoon into the interior parts of India may provide support to the kharif sowing activity in Madhya Pradesh, Maharashtra and Gujarat. Crops such as Soybean, cotton, sugarcane, pulses, turmeric and groundnut have been impacted.
There are lower stocks of turmeric left with the stockists and farmers until the fresh crop arrivals in January 2010. Stocks of Turmeric till June 2009 end are as follows Erode- 7 lakh bags, Nizamabad-1.75 lakh bags, Duggiralla- 2 lakh bags, Warrangal- 75000 bags, others – 1 lakh bags. (1 bag weighs 70-75 kgs.)
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