Turmeric On NCDEX Settled Down By -0.43% At 8332

Turmeric on NCDEX settled down by -0.43% at 8332 on monsoon progress in key turmeric producing belts, as the sowing is taking place in Andhra Pradesh, Karnataka and Telangana. However downside seen limited on better buying from exporters and upcountry buyers. At Nizamabad market total arrivals are at 500 quintals, lower by 1500 quintals as against previous day. At Warangal market estimated market supply was at 500 bags, higher by 100 bags from previous day’s arrivals. Only 200 bags of local hybrid turmeric arrived for sale and all the hybrid varieties were sold. Some traders have received upcountry orders and they procured. Of the 4,300 bags arrived, buyers procured 65 per cent stocks for their immediate use. The price of the turmeric was up Rs. 50 a quintal in the futures but on the spot there was no increase in the price.

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