Turmeric On NCDEX Settled Up By 2.95% At 6972

Turmeric on NCDEX settled up by 2.95% at 6972 on short covering after prices dropped due to reports of higher sowing and comfortable stocks. Prices last week also remained under pressure due to expectation of a higher output this year. The yield of the crop may arise due to favourable weather in key producing states. According to the recent report from Andhra Pradesh Agriculture Department, area under turmeric in the state stood higher at 13,992 hectares as on Sep 9 as against 13,031 hectares same period a year ago. In Telangana the area under turmeric was up at 45,633 hectares as compared to 40,630 hectares a year ago period.

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