Turmeric On NCDEX Settled Up By 0.76% At 6626

Turmeric on NCDEX settled up by 0.76% at 6626 on short covering after prices dropped on higher turmeric output due to good sowing and favorable weather conditions at the producing belts. 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.

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