Turmeric Futures Closed Down

Turmeric futures closed down on Wednesday on reports on lower domestic demand as stockists wait for the sowing progress for next week. The prices may be range bound on reports of forecast of good rains in turmeric growing area in south India. The Jun’16 delivery contract on NCDEX closed 1.43% lower to settle at Rs 7,850 /quintal. Turmeric supplies have been slowing down and demand from stockists and upcountry buyers also going down thus the prices may trade in range bound. Turmeric arrivals have been higher in Feb and March compared to last year but the arrivals have slowed in April as per agmarknet data.

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