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14th Nov 09 (Indicative
prices)
Spices:
Turmeric - Turmeric prices have skyrocketed to unbelievable levels.
At the start of the year 2009, no one would have predicted that prices
would almost treble by this time. The export demand for this spice was
high as well due to its good demand for industrial use for making organic
dye the prices have shot up to this level. The speculative activities
too played big role in upward movement.
The november contract ended around 8.75% up this week compared to last
week's closing.
Turmeric Contracts (approx. in US$ / per 100kg) - Nov - 279.6, Dec - 240.3,
April - 151.80
Spot Price - US$ 2725 per ton
Red Chilly Guntur LCA 334 - Chilli contracts drop down quite substantailly
this week. Dec futures was down by approx. 7.25% while feb contracts decreased
by 3.75% as new harvest is to arrive from January onwards in Southern
India where rains were also seen giving positive outlook for production.
Chilli Contracts (approx. in US$ / per 100kg) - Dec - 136, Feb - 125.9,
March - 120.2
Spot Price - US$ 1289 per ton
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