Turmeric On NCDEX Settled Up 0.56% At 7152

Turmeric on NCDEX settled up 0.56% at 7152 on rising demand at the spot market. Though, some gains were capped due to the arrival of medium and poor quality turmeric from the producing belts. The stock positions of Turmeric in the Exchange warehouses in the current season are only stock at Sangali while last year the stocks were stored in Duggirala, Erode and Nizamabad too. On the export front, country exported about 51,147 tonnes of turmeric during April-September period, up by 27% to 58,233 tonnes compared last year, as per government data. Expectations of increasing production in coming harvesting season and lowering export demand in recent months are putting pressure on turmeric prices at higher levels.

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