Turmeric On NCDEX Settled Up By 0.13% At 7428

Turmeric on NCDEX settled up by 0.13% at 7428 on short covering after prices dropped on weak demand at the spot market. Further, good health of new season crop in South Indian states limited the upside. 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. India produced 2.52 lakh tonnes of turmeric in 2015-16, lower by 15 per cent than the previous year.

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