Turmeric On NCDEX Settled Down By -0.86% At 6928

Turmeric on NCDEX settled down by -0.86% at 6928 on rising arrivals as the harvesting is going on in key producing states. Moreover, turmeric acreage in Telangana and Andhra Pradesh was higher this year as compared to last year. Production of turmeric in Telangana is seen rising 35% on year to 251,000 tn 2016-17 (Jul-Jun) due to favourable rains, while May contracts traded higher on improving domestic and up-country demand at the spot market. Country exported about 74,524 tons; up by 32% during April-Nov period compared last year exports of 56,471 tons. The supplies are improving and there is good demand for the new season crop too.

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