India turmeric hits new high as stockpile dwindles

MUMBAI, Nov 6 (Reuters) - India's turmeric futures climbed
to new highs on Friday on dwindling stockpiles and likely late
arrivals on a delay in cultivation due to patchy rains,
analysts said.

The benchmark November turmeric NTMX9 hit a new high of
11,666 rupees per 100 kg.

In Nizamabad, a major spot market in Andhra Pradesh, the
price edged up by 67 rupees to 11,733 rupees per 100 kg.

"For short-term supply crunch will keep prices on higher
side. But they are bound to correct, probably from mid-January
with the beginning of arrivals from new crop," Punam Chand
Gupta, a Nizamabad exporter, said.

Stocks were low as last year's output had fallen sharply
due to low acreage and adverse weather.

Following are the closing prices of turmeric futures in
rupees per 100 kg on the National Commodity and Derivatives
Exchange Ltd. <0#NTM:>

Contract Reuters code Closing price Change in %

=========================================================

Nov NTMX9 11,662 3.97

Dec NTMZ9 10,644 3.02

(Reporting by Rajendra Jadhav; Editing by Sunil Nair)