Turmeric On NCDEX Settled Down By -0.25% At 8120

Turmeric on NCDEX settled down by -0.25% at 8120 on expectation of better climatic conditions in growing areas. Further, decrease in physical demand from up-country buyers too fuelled the downtrend. Turmeric acreage in Telangana as on 10 Aug was up 14 % at 43,000 hectares as compared to 38,000 hectares last year. The acreage of turmeric is higher compared to normal in both states. As per dept of commerce data, turmeric exports in April- May 2016 increased by 31% compared to last year at 21,256 tonnes. In 2015-16, 85,426 tonnes exported compared to 90,738 tonnes in 2014-15. Major export destinations in 2015-16 are Iran, Malaysia, UAE, USA and Sri lanka.

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