Tuesday, May 15, 2012

India Turmeric sheds 1.13% on higher stocks

Last Updated : May 15, 2012 17:33

MUMBAI (Commodity Online):Turmeric ended lower on Tuesday as poor demand from the overseas buyers along with higher stocks pressurized the futures.

In NCDEX Turmeric May contract closed at Rs.13545 per quintal, a decline of 1.13% against the previous close. Open interest of the contract stood at 6315 lots and volume traded is 5635 lots.

According to Spices Board of India, exports of Turmeric during April 2011- December 2011 stood at 62,000 tonnes as compared to 37,400 tonnes in 2010-11, rise of 66%. Targets set by the Spices Board have already been met till October 2011. Exports have touched new historical levels in 2011-12.

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