Turmeric On NCDEX Settled Down -0.72% At 7976

Turmeric on NCDEX settled down -0.72% at 7976 on the back of slack demand at the spot market. According to the data, the quantity of turmeric arrivals during February-May in key states was higher by 71 per cent compared to the last season. Higher arrivals in 2015-16 were thanks to the good prices and higher production, according to trade sources. For this season, production of the yellow spice is forecast to increase to 8 lakh tonnes (lt) from 7.50 lt last year. In FY 2015-16, turmeric exports were lower by 5.9 per cent at 85,426 tonnes compared to 90,738 tonnes last year, according to data from the Department of Commerce.

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