Turmeric Futures Closed Higher

Turmeric futures closed higher for the second session yesterday due to bargain buying at lower level. There are reports of good crop conditions and steady demand in the physical market. Turmeric Oct’16 delivery contract on NCDEX closed 0.29% higher to settle at Rs 6,904 per quintal. There is forecast of wet weather in turmeric growing areas in Telangana, which may enhance production coupled with lowering export demand in recent months is pressurizing prices. However, excessive rains may affect the quality.

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