Turmeric On NCDEX Settled Down By -0.32% At 6776

Turmeric on NCDEX settled down by -0.32% at 6776 on weak physical demand at the spot market. Moreover, higher supplies from the producing regions too fuelled the downtrend. Reports showed that the turmeric arrivals in the country increase to 28,337 tons last week (20-25 Feb) compared to 7,300 tons during previous week. Though, some losses were capped on rising upcountry demand. On the export front, country exported about 74,524 tons; up by 32% during April-Nov period compared to last year exports of 56,471 tons. Prices may decline due to pressure of arrivals but improved domestic and export demand for the new turmeric may support prices. New crop arrivals have started in all the major producing centres of Andhra Pradesh, Telangana, Maharashtra, Odisha. Production in the ongoing season is expected to increase mainly on higher sowing area and favourable weather conditions in Maharashtra, Telangana and Andhra Pradesh etc

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