India Turmeric futures extended the loss weighed by rising arrivals, estimates of higher output and weak exports. Turmeric exports in December remained flat at 3,250 tonnes from 3,350 tonnes a year ago. Arrivals of Turmeric in India usually start in mid-January in small quantities, gain momentum from March and continue through June.
NCDEX April turmeric contract ended the last session down by 1.35 percent at 6,809 rupees per 100 kg in the previous session. In today's early moves, the benchmark April futures slumped 0.87 percent to the session low of Rs 6750 and now quoted at Rs 6775 per 100 kg. The open interest in the contract added 0.51 percent to 23,430 tonnes, indicating short selling.
Source : bloombergutv.com