DEPOSIT AND DELIVERIES Turmeric is very important spice in India, which produces nearly entire whole world’s crop

Turmeric is very important spice in India, which produces nearly entire whole world’s crop and
TURMERIC MONTHLY ANNUALISED PRICE VOLATILITY
Turmeric (Quan�ty in MT)
12000
consumes 80% of it. Turmeric Monthly Spot Price Vola�lity
10000
Indian turmeric is considered to be the best in the world market because of its high curcumin
30.00%
8000 Commodity at a Glance content.

NCDEX Turmeric Futures

6000 India accounts for about 80 % of world turmeric production and 60 % of world exports. 25.00%
4000 Telangana and Andhra Pradesh together occupy 50% of the total area followed by 20.00%
2000
Maharashtra, Karnataka and Tamilnadu.
0 15.00%
2018-19 2019-20 2020-21 2021-22 2022-23

Deposit Delivery SEASONALITY 10.00%

CONTRACT SPECIFICATIONS Source - NCDEX

Fresh turmeric arrival in India starts from mid-January and continues till June. Stored produce 5.00%

Commodity Ticker Symbol Basis* Additional delivery center* Delivery Logic is available throughout the year. Sowing of turmeric starts from mid-June to October.
0.00%
Turmeric TMCFGRNZM Nizamabad Sangli, Erode, Basmat Compulsory Delivery
Turmeric crop takes 180 – 200 days to mature and needs another 10-15 days of on farm Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
post-harvest activities to make the turmeric acceptable for consumption. 2018-19 2019-20 2020-21 2021-22 2022-23
Trading and Position Limits
Aggregate Near Month Source - NCDEX Futures Price
Quotation GST Delivery Unit Tick Size Expiry date

Rs. per quintal Exclusive 5 MT Rs.2 20th of the Member Client Member Client
PRICE RISK HEDGING
delivery month 56,000 5,600 14,000 1,400 Processor/ Hedger locks in Farmer/ Hedger locks in
the Turmeric price at Rs. Long Hedge Short Hedge the Turmeric price at Rs.
Farmer Polished Turmeric Fingers with the following specifications as the basis 6200/ quintal for a Long 500 500 6500/ quintal for a short
position. 400 400 position.
Farmer Polished Turmeric Fingers

P&L in Rs per Quintal

• Inferior quality Turmeric* should not be more than 2.25% 300 300
If the price of Turmeric If the price of Turmeric

P&L in Rs per Quintal

• Length 200 200
o Fingers that are broken/those less than 15mm should not be more than 3.0% decreases in the physical decreases in the physical
100 100
o Fingers less than or equal to 3 cm in length should not be more than 15%
market, the gain in the 0 market, the loss in the
• Damage due to moisture (i.e. Lokhandi) or over boiling (i.e. Kadh) should not be more 0
Quality physical market is offset by 6100 6200 6300 6400 6500 6600 6700 6800 6900 physical market is offset by
than 1.2% -100
5800 5900 6000 6100 6200 6300 6400 6500 6600 -100
Specifications • Unboiled or less boiled (Gajarthod) turmeric should not be more than 0.5% the loss in the Futures the gain in the Futures
-200 -200
• Bhusa, chaff dirt, earth clods and stones should not be more than 0.75% market. market.
-300 -300
• Bulbs should not be more than 3%
• Moisture: 12% max -400 -400
• Turmeric should be free from fungus Benchmark Futures contract for Turmeric If the price of Turmeric -500 If the price of Turmeric
-500
• Turmeric should not be artificially colored with dyes or chemicals Hedging and price risk management tool for value chain increases in the physical Long Futures Short Physical
Long Physical Short Futures increases in the physical
* Chora/atthu finger, khota gatha, markha Efficient and Transparent price discovery market, the loss in the market, the gain in the
* upto the radius of 50 kms from the municipal limits. For detailed contract specifications visit website www.ncdex.com Robust delivery mechanisms physical market is offset by physical market is offset by
Connects the entire value chain gain in the Futures market. loss in the Futures market.
Graphs : For illustrative purposes only

FACTORS INFLUENCING THE PRICE

National Commodity & Derivatives Exchange Limited USES OF TURMERIC
CIN: U51909MH2003PLC140116 Weather condition in Turmeric producing areas especially
Ackruti Corporate Park, 1st Floor, Near G.E.Garden, L.B.S. Marg, Kanjurmarg (West), Mumbai - 400 078 The tuberous rhizomes or underground Curcumin, a phytochemical is the active at sowing, flowering and harvesting stage
T : (+91-22) - 66406789 | F : (+91-22) - 66406899 | Toll Free : 1800 26 62339 | E-mail: askus@ncdex.com | www.ncdex.com stems of turmeric have been used from ingredient in turmeric and has wide range of Demand for Turmeric seed from Spice manufacturers in
antiquity as condiments, a dye and as an therapeutic effects. India and Exporting Countries
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aromatic stimulant in several medicines. Government policies on Import and Export
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