Turmeric On NCDEX Settled Down By -0.42% At 7976

Turmeric on NCDEX settled down by -0.42% at 7976 on profit booking after prices gained on the back of local demand at the spot market. Reports of steady domestic demand and expectation of higher sowing prospects have pressurizing prices. The prices may be range bound to higher on reports of forecast of above normal rains in turmeric growing area in south India. 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.

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