Turmeric Futures Closed Higher On Tuesday

Turmeric futures closed higher on Tuesday due to pick up in demand and lower arrivals in the domestic market. The prices were under pressure at higher levels as weather in the turmeric-growing regions is expected to remain good for the season. The Aug’16 delivery contract on NCDEX closed 1.60% higher to settle at Rs 8,268 per quintal last week. 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.

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