Turmeric Futures Fell On Friday

Turmeric futures fell on Friday on reports of subdued demand by the physical market players as they are waiting for new season crop. The Apr’16 delivery contract at NCDEX closed 5.15% down w-o-w to settle at Rs 9,642 per quintal. Though there are, reports of production concern sue to drought in Maharashtra and Andhra Pradesh.

There is concern over production due to heavy rains during Nov-Dec in south India but the prices may remain little lower as trader may wait for new season crop in next one month. Deficient rainfall in during early part of sowing in major Turmeric growing regions of Maharashtra and Karnataka may reduce the yield.

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