Turmeric Futures Closed Higher

Turmeric futures closed higher on Monday on chart base buying. The Jun delivery contract on NCDEX closed 0.30% higher to settle at Rs 8,016 per quintal. Moreover, reports of good rains in turmeric growing area in south India may keep prices lower. The price trend is looking mostly sideways as market participants anticipating good sowing in next season on forecast of good rains.

Turmeric arrivals have been higher in Feb and March compared to last year but the arrivals have slowed in April as per agmarknet data. New season crop has hit the markets and continue to peak in current month but majority of arrivals are of medium quality.

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