India’s turmeric futures extended the gains for the third consecutive sessions lead by short covering amid firm spot market demand. Some bargain buying emerged in the spot turmeric and arrivals continued to be lower. This supported turmeric futures to move higher in the domestic futures market. Turmeric arrivals in the Nizamabad mandi were steady at 500 bags and prices surged by Rs 300 to Rs 13,500 per 100 kg. The Erode mandi was closed today.
Turmeric futures for the September delivery on NCDEX swelled by Rs 308 or 2.50 percent to the session high of Rs 12622 per 100 kg. The counter ended the session higher at Rs 12610. The open interest in the contract dipped 5.20 percent to 6,340 tonnes, indicating short covering and volume traded surged to 4,345 tonnes from 3,710 tonnes.