Turmeric On NCDEX Settled Down By -0.51% At 8170

Turmeric on NCDEX settled down by -0.51% at 8170 due to lack of upcountry demand at the spot market. Though, some losses were capped as turmeric production is likely to decline by 10-15 percent as turmeric area has been shifted towards other crops. As per market sources, production year 2015-16 started with carry-forward stocks of 1.4 lakh tonnes compared to 2.1 lakh tonnes in 2014-15. The consecutive back-to-back droughts in India have impacted turmeric production in 2014-15 and 2015-16.

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