Turmeric On NCDEX Settled Down

Turmeric on NCDEX settled down by -0.91% at 8320 on easing demand from retailers and stockists amid adequate stocks on higher arrivals from growing regions. Further, negligible upcountry orders too fuelled the downtrend. 

Turmeric arrivals have been higher in Feb and March compared to last year as per data. New season crop has hit the markets and continue to peak in current month but majority of arrivals are of medium quality. As per dept of commerce data, turmeric exports until Jan 2016 pegged at 69,864 tonnes while the export for the 2014-15 is 90,738 tonnes compared to 77,430 tonnes in FY14. As on latest sowing data, turmeric sowing in AP, Telangana is lower than the normal sowing.

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