Turmeric On NCDEX Settled Up By 1.98% At 8328

Turmeric on NCDEX settled up by 1.98% at 8328 on receipt of some orders from North India. Further, fresh buying is observed from upcountry traders as supplies may drop in the coming days due to monsoon season too fuelled the uptrend. Sowing operations will pick up as main producing areas of Andhra Pradesh, Telenagana, Tamil Nadu, Odisha and Maharashtra have received rains. Turmeric production for the current crop year (2015-16) is estimated to be around 315,000 tons compared to the previous year production of 324,000 tons. During the Apr-Dec 2015, India exported 68,500 ton turmeric as against 64,785 ton a year ago because of increased demand from Gulf countries. Prices of turmeric stayed flat on the spot, while rising on the futures market.

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