Turmeric Settled Up By 1.42% At 8860

Turmeric settled up by 1.42% at 8860 due to estimation of lower output at the producing belts. Though arrivals are comfortable at present output is expected to fall by 13% due to adverse weather and lower acreage. Stockists and traders are buying good quality turmeric on anticipation of industrial and export demand in coming months. Turmeric output is expected around 5 million bags and carry forward stocks are estimated around 2.5 million bags. During the first six months of this fiscal, India exported 46,500 ton turmeric as against 44,406 ton a year ago because of increased demand from Gulf countries. India's 2014-15 turmeric export stood at 86,000 ton up from 77,500 ton a year ago. 

The sale of turmeric in Erode markets has increased. Many traders have started buying the turmeric in large scale though they are getting limited demand from North India. Some traders are keen in buying only the new turmeric and some procured the hybrid turmeric.

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