NCDEX Turmeric futures fell Thursday on higher stocks in the spot markets amid expectations of higher output. In NCDEX turmeric April contract traded at Rs.4764 per quintal, lower by 1.28% against the previous close.
In the morning session the contract traded at a range of Rs.4750-4856 per quintal. Open interest of the contract is 17520 lots and volume traded is 5730 lots for the time being.
NCDEX Turmeric Short Term Trend
Short term trend looks weak till exports pick up—as per traders. Holding of stocks by Stockists however could support the rates in coming weeks and expectations of exports picking up in coming weeks too could support prices. Higher production prospects and better stocks could however keep pressure on prices as markets trade with high volatility.
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