Commodity Online
NEW DELHI : Brisk bargain buying in spot markets helped turmeric prices to recover in futures markets here at the national capital.
At the NCDEX, turmeric futures rebounded to trade 0.30 per cent higher in early trade.
Turmeric for June delivery recovered 0.30 per cent to Rs 4,940 a quintal, in a turnover of 2,410 lots. The contract clocked 2,410 lots.
However, a likely rise in acreage this season, restricted gains to some extent.
Turmeric for the July-month contract also showed some strength and traded 0.25 per cent higher at Rs 5,002 a quintal with a turnover of 1,160 lots.
Market analysts said emergence of buying activity at lower levels, supported by falling arrivals in spot markets and an estimated fall in supplies for 2009 helped turmeric prices to recover.
Turmeric arrivals at the Nizamabad spot market fell 23 per cent to 11,753 tonnes in April.
