Turmeric On NCDEX Settled Up 0.78% At 7242

Turmeric on NCDEX settled up 0.78% at 7242 tracking firmness in spot demand amid active interest from upcountry traders ahead of festive and marriage season. Prices also seen supported triggered by reports of crop damage across Telangana and Andhra Pradesh, which received incessant rains. 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 total production in the coming year is expected to be higher due to strong sowing of turmeric in Karnataka. Sources also stated that total daily arrivals of 2000 bags have been reported in Nizamabad mandi.

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