Turmeric On NCDEX Settled Down -1.23% At 8050

Turmeric on NCDEX settled down -1.23% at 8050 on good sowing acreage due to better irrigation facilities and sufficient rains in the producing belts of Tamil Nadu. Though, some losses were capped on rising demand from the medicinal and cosmetic industry. Turmeric arrivals have been higher in February, March and April compared to last year but the arrivals have slowed in May as per data. However, the arrivals are higher by 105% in May 2016 compared to last year same month. Producers are releasing their lower or medium grade Turmeric and holding premium quality in the anticipation of better return ahead on anticipation of some weather disturbances in the coming monsoon.

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