Turmeric On NCDEX Settled Down By -0.9% At 6164

Turmeric on NCDEX settled down by -0.9% at 6164 due to fall in demand at the spot market. Turmeric farmers and traders have been hit hard by poor sales during peak season. Many traders and farmers expected good sales of turmeric during the peak period, which started a month ago. But, this year, for the first time in recent history, both farmers and traders are in agony due to poor production and tepid demand from North India. At Sangli market estimated market supply was at 18000 quintals, lower by 1500 quintals as compared to previous day. At Nizamabad market arrivals were reported at 12000 quintals, down by 10000 quintals as against previous day. Turmeric arrivals in the country is declining in first 20 days in April to 66,025 tonnes (Apr 1-20) compared to 1,15,768 tonnes during the same period in March, as per the data. On the export front, country exported about 89,704 tonnes during April-Jan period, up by 28.3% compared to last year exports of 69,870 tonnes, as per government data.

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