Turmeric Settled Down -0.57% At 8712



Turmeric settled down -0.57% at 8712 on improved arrivals of medium quality turmeric. New Turmeric supply reported in the domestic market pressurizes the prices at higher levels. In Nizamabad indicative market, supply reported last week ending 53000 bags as compared to previous week 49000 bags. In Sangli market reported 37050 bags, in Erode market reported 16900 bags, in Duggirala market reported 1634 qtls etc. 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. As per dept of commerce data, turmeric exports until Nov 2015 pegged at 50,916 tonnes while the export for the 2014-15 is 90,738 tonnes compared to 78,360 tonnes in FY14.

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