NCDEX Settled Down By -1.23% At 7226

NCDEX settled down by -1.23% at 7226 on account of easing domestic and export demand at the spot market. Though, lower arrivals from the producing regions capped some losses. 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. Production declined on account of lower acreage in Tamil Nadu and comparatively low yield in Maharashtra, Andhra Pradesh, and Telangana

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