Saturday, 26 November 2011

Turmeric & Sugar Market Weakens.


Turmeric futures drops Saturday on slow on demand greater arrival pressure from the turmeric producing regions from India. At NCDEX as per according to December contract of turmeric at 11:10 AM merchandise at Rs. 7084/quintal, which is lower by 0.97 percent in comparison of its previous close.  According to Spices Board of India, export of turmeric has been raised by 46% during April - Sep 2011.
                                                Whereas in Sugar futures settled lower on Friday as merchants unlading their positions due to lower demand in the physical markets. Crushing of cranes in the areas like Uttar Pradesh and Maharashtra has gained impelling force in prices. At NCDEX Sugar December contract at Rs. 2964/quintal which is lower by 1.16 percent in comparison of its previous close. Late evening on Nov 22, 2011 Government allowed exports of a million tons of sugar under Open General License and removed stock limit on sugar.

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