Turmeric On NCDEX Settled Down -0.96%

Turmeric on NCDEX settled down -0.96% at 6842 due to lack of fresh upcountry demand at the spot market. Further, heavy arrivals from the producing belts too added pressure on turmeric prices. Turmeric area likely to increase current year as compared to last year. In major growing states like Telangana, Andhra pradesh, Maharashtra etc sowing area reported up. 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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