Turmeric On NCDEX Settled Down By -0.41% At 7200

Turmeric on NCDEX settled down by -0.41% at 7200 due to higher sowing acreage in the current season. However downside seen limited reports of crop damage across Telangana and Andhra Pradesh, which received incessant rains during the second fortnight of September. According to news sources, over 2.5 lakh hectares of crops such as turmeric, chilli, soyabean, paddy, cotton, have been damaged. The extent of damage to turmeric is yet to be assessed. Though overall acreage under turmeric is marginally higher than last year, production is expected to fall because of lower yield. The arrival of turmeric bags at Erode markets increased.

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