India's turmeric futures hit upper circuit for third straight day, bolstered by robust demand in spot market and supply crunch due to lower carry-forward stocks. The benchmark December turmeric closed up 4.01 % at 10,212 rupees per 100 kg. Carry-forward stocks were low as output had fallen sharply last year due to low acreage and bad weather.
There are reports of export enquiries coming from middle East countries which is supporting the rise in prices.
Arrivals are also remaining on the lower side which gives a push to higher side for prices.
Courtesy: AUM Capital Market Pvt. Ltd.
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