Turmeric On NCDEX Settled Up By 1.9% At 7288

Turmeric on NCDEX settled up by 1.9% at 7288 on expectation of pickup in domestic demand from the upcountry traders ahead of festival season. Besides, the rally was triggered by 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.

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