Turmeric futures recovered most of previous losses on fresh buying support. The November NCDEX contract made new contract high of Rs10803 and ended at Rs10780 levels. Spot prices were trading at Rs11000 per quintal at Nizamabad.
Outlook Speculative activities followed by lower stocks leading sharp rise in turmeric prices in last few months and trading at all time highs
Spot prices are trading at all time high of Rs11000 per quintal at Nizamabad
Meanwhile, demand may not sustain at these higher prices and expected to pull down prices in long term
For the day ahead, turmeric futures are expected to extend gains on firm spot markets
Courtesy: JRG Wealth Management
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