Turmeric On NCDEX Settled Down By -0.69% At 6576

Turmeric on NCDEX settled down by -0.69% at 6576 amid reports of higher output and scattered commencement of crop supplies. According to trade sources turmeric output is expected to be around 600,000 ton. New crop arrivals are pouring in Nizamabad market albeit in small quantity and with high moisture content. However, this has led to bearish sentiment in the market. Prices in coming days are expected to remain under pressure with arrivals improving and stockiest selling. India exported about 51,147 ton turmeric during Apr-Aug 2016-17 up by 32% on year, as per the data released by commerce ministry. At Warangal market, total arrivals are at 100 bags, steady as against previous day’s arrival.

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