Turmeric On NCDEX Settled Down By -0.32% At 6754

Turmeric on NCDEX settled down by -0.32% at 6754 as new season turmeric crop has now entered into the markets in South India. Expectations of increasing production in coming harvesting season and lowering export demand in recent months are putting pressure on turmeric prices. Turmeric output is seen higher at 7 million bags thanks to higher sowing and favorable weather conditions. Prevailing high prices encouraged farmers to plant more turmeric this year. 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. At Nizamabad market sources reported arrivals at 1200 quintals, higher by 100 quintals as against previous day.

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