The National Commodity & Derivatives Exchange Limited (NCDEX) on August 12, 2026, Re-triggers 2.5% Event-Based Additional Surveillance Margin (E-ASM) on Turmeric Contracts till September 2, 2026.
This NCDEX circular provides an update on Event Based Additional Surveillance Margin (E-ASM), a mechanism the exchange has been applying to select commodity contracts since 2019 under a series of surveillance-related circulars, to curb excessive price volatility.
Under this framework, E-ASM is triggered when a commodity's price shows a High-Low variation — calculated as [(High-Low)/Low x 100] — exceeding specified thresholds over 5-day and 10-day windows (10% and 15% respectively, per the table). Once triggered, an additional margin is imposed on all running and upcoming contracts in that commodity to discourage speculative activity and contain volatility.
As per this circular, Turmeric has re-triggered the E-ASM threshold, with both the 5-day (10%) and 10-day (15%) price movement triggers activating on August 12, 2026. Consequently, a 2.5% Event-based Additional Surveillance Margin will apply to all running and yet-to-be-launched Turmeric contracts until September 2, 2026.
Among the other commodities tracked under this surveillance framework — Barley, Castor Seed, Coriander, Guar Gum, Guar Seed, and Jeera (including Jeera Mini) — none have triggered the E-ASM condition currently, as reflected by "NA" entries across their respective columns. Turmeric is thus the only commodity currently subject to this additional margin requirement under the circular.
[Circular No. NCDEX/SURVEILLANCE & INVESTIGATION-076/2026]
