Turmeric On NCDEX Settled Down By -0.47% At 6802

Turmeric on NCDEX settled down by -0.47% at 6802 amid reports of higher output amid poor export buying. In coming days, arrivals are expected to increase which could put pressure over prices. 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. According to trade sources turmeric output is expected to be around 7.5-8 million bags. India's Apr-Sept turmeric export stood at 59,000 ton up 47% on year, according to Spices Board data. The arrival of new turmeric is slowly increasing. The traders quoted good prices and purchased all the 2,000 bags.At the Erode Turmeric Merchants Association sales yard, finger turmeric sold at Rs. 5,366 to Rs. 8,755 a quintal.

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