PAC sees no unusual price change, rejects call for ban on turmeric futures

Finds that even though prices vary between different grades, overall price trend remains more or less same, making the availability of reference price crucial

The Product Advisory Committee (PAC) on turmeric has rejected calls for banning futures trade in the commodity, claiming that it has not found any unusual movement in its price.

Reacting to the demand made in some quarters to delist turmeric futures from the exchanges due to unusual price movements, PAC found that even though prices vary between different qualities and grades, the overall price trend remains more or less same, making the availability of a reference price very important.

The PAC for any product is constituted under a mandate framed by Sebi and includes representatives from across the commodity value