Turmeric Futures Corrected Yesterday

Turmeric futures corrected yesterday on profit booking at higher levels. However, steady arrival of good quality turmeric fetching higher prices at spot market. The Apr’16 delivery contract at NCDEX settles 0.11% lower at Rs 8,896 per quintal.

There are reports of production concern due to drought in Maharashtra and Andhra Pradesh. There is concern over production due to heavy rains during Nov-Dec in south India. 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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