Turmeric Futures Closed Lower On Friday

Turmeric futures closed lower on Friday but increased during the week and continue its uptrend due to good up country demand on weak supplies in the physical market. The Jul’16 delivery contract on NCDEX closed 0.32% lower to settle at Rs 8,166 per quintal. The prices may be range bound to higher on reports of forecast of above normal rains in turmeric growing area in south India. Good sowing progress in Karnataka and Tamilnadu may pressurize prices in coming weeks.

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