Turmeric On NCDEX Settled Up By 3.33% At 7134

Turmeric on NCDEX settled up by 3.33% at 7134 on forecast of heavy rains in turmeric growing areas. Further, expectation of pickup in demand for old crops ahead of festival season too fuelled the uptrend. India's turmeric output in 2016-17 (Jul-Jun) is expected to rise because of better rainfall this season in key growing areas such as Maharashtra, Telangana, Karnataka and Tamil Nadu, report added. Traders are expecting turmeric production in Maharashtra to be around 1.2-1.5 million bags (Each bag of 70 kgs) as against 0.8- 1 million bags in the previous year.

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