Turmeric futures traded on a negative note on Monday on weak demand due to arrivals of poor quality crop in the physical markets coupled with huge carryover stocks and expectations of a better sowing this season. The spot as well as the futures settled 0.42% and 1.26% lower respectively.
Turmeric trading range for the day is 5795-6047.
Turmeric dropped as monsoon rains spread to interior South India, improving prospects of planting for the crop.
Arrivals remain steady in spot market in Nizamabad and supplies are expected to increase in coming days.
NCDEX accredited warehouses turmeric stocks gained by 10 tonnes to 480 tonnes.
In Nizamabad, a major spot market in AP, the price ended at 5708.7 rupees dropped -24.25 rupees.
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