Turmeric On NCDEX

Turmeric on NCDEX settled up by 1.08% at 8214 on anticipation of rising export demand in the next two month. Further, high quality arrivals from the producing belts too fuelled the uptrend. However, reports of lower domestic demand and expectation of higher sowing prospects limited the upside. 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. 

As per dept of commerce data, turmeric exports in 2015-16 are pegged at 85,426 tonnes while the export for the 2014-15 was 90,738 tonnes for the same period. At Warangal market sources reported arrivals at 1000 bags, down by 500 bags as compared to previous day. At Nizamabad market estimated market supply was at 1400 quintals, higher by 200 quintals from previous day’s arrivals. At Duggirala arrivals were reported at 726 quintals, up by 724 quintals as against previous day. Spot turmeric prices remained stable at Erode markets despite a spike in prices of the spice. The prices were stable and no improvement in sales and price was seen. But the price of the turmeric was up 2 per cent above the freezer level (increase of Rs. 160 a quintal) has not reflected in the local sales market.

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