Turmeric On NCDEX Settled Up By 0.88% At 6858

Turmeric on NCDEX settled up by 0.88% at 6858 on short covering after prices dropped on medium and poor quality arrivals from the producing belts. Next year crop is expected to be higher which is keeping stockiest at bay. Domestic demand from North India is firm. Trading activity in major markets is dull due to cash crunch. Farmers are insisting for cash payment but have started accepting cheque payment as well. Exporters are active in market due to their prior commitment but demand has been hurt since they are finding difficult to source material. At Erode market arrivals were reported at 2000 quintals, steady as against previous day’s arrival.

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