Spot and futures prices of turmeric are down since the last couple of days on market talk that the stock in one of National Commodity and Derivatives Exchange-accredited cold storage houses at Nizamabad in Andhra Pradesh was of bad quality, traders and exporters said today. | |
| Turmeric futures for June delivery fell by Rs 55 to Rs 2,111 per 100 kg over the last two days because of the rumour. Spot prices in Nizamabad fell to Rs 2,082 per 100 kg, down Rs 40 in just two days. |
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| However, NCDEX officials denied that the stock at one of its accredited cold storage houses at Nizamabad was of bad quality. |
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| In fact, the rumour emanated after NCDEX announced the temporary closure of the cold storage house, an official of the exchange said. |
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| "The storage house is still under construction. The stored stock has been sampled and it is not of bad quality," the official said. |
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| The cold storage house receives nearly 10 tonnes turmeric every year. |
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| NCDEX July contract has shed Rs 60 at Rs 2,141 per 100 kg over last two days. |
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