Turmeric On NCDEX Settled Up By 1.24% At 8148

Turmeric on NCDEX settled up by 1.24% at 8148 on expectation of pickup demand from north India. However upside seen limited as weather in the turmeric-growing regions is expected to remain good for the season. The arrivals in the main physical markets such as Nizamabad, Duggirala (AP), Salem, Erode and Sangli reported decreasing. There is expectation of lower arrivals and good upcountry demand may lend support in coming weeks. 

Turmeric acreage in Telangana as on 20-Jul-16 was around 30,000 hectares as compared to 31,000 hectares last year. The acreage is lower compared to normal. As per dept of commerce data, turmeric exports in April 2016 increased by 27% compared to last year at 9,135 tonnes. In 2015-16, 85,426 tonnes exported compared to 90,738 tonnes in 2014-15. Spot turmeric prices gained at Erode markets, while on the futures it decreased. Traders purchased 70 per cent of the arrived 6,000 bags.

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