Turmeric On NCDEX Settled Down By -0.12% At 6744

Turmeric on NCDEX settled down by -0.12% at 6744 amid commencement of new crop supplies in the markets of Erode, Nizamabad and Duggirala. According to trade sources turmeric output is expected to be around 600,000 ton. Retailers are buying as per their requirement while bulk buyers are waiting for further fall in prices. Turmeric crop is in good condition and production is expected to be higher next season. Turmeric output is seen higher at 7 million bags thanks to higher sowing and favourable weather conditions. Turmeric acreage in Telangana and Andhra Pradesh was higher this year as compared last year.

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