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Turmeric price quoted steady at Rs 5,600 per 100 kg in Nizamabad mandi. The arrivals in the Erode mandi in the state of Tamil Nadu increased to 8,000 bags from 7,000 bags from 8,000 bags with prices quoting steady at Rs 4,500 per 100 kg. Meanwhile, in Salem crop sold at Rs 5,200 per 100 kg.
In the Nanded mandi of Maharashtra, select quality quoted at Rs 5,300 per 100 kg and the Powder quality traded at Rs 4,700 per 100 kg. In Sangli, Rajapuri variety slumped further by Rs 400 at Rs 6,000 per 100 kg while Desi Kadppa was quoted down by Rs 300 at Rs 5,000 per 100 kg.
The NCDEX turmeric September contract is currently quoting up by just Rs 10 at Rs 5128 per quintal. The contract moved in the range of Rs 5164-5046 per 100 kg.
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India Infoline News Service / 09:04, Jan 22, 2015
The outlook is a flat start. The market will look to scale to new peaks though not much effort is needed for the same. HUL saw a rally and short-covering may have pulled it up further. Speculation is on that its parent will raise stake through an open offer. After the cooling in oil prices, Cairn results will be in focus.