Turmeric On NCDEX Settled Down By -1.45% At 6136

Turmeric on NCDEX settled down by -1.45% at 6136 continuing its weak trend due to new crop supplies amid weak buying. However, there are concerns over crop in TN amid drought like situation which could support prices in medium term. Turmeric output is seen at 7.5 million bags of 70 kg each, said Kumar. With carry over stock of nearly 3 million bags total availability is expected around 10.5 million bags. As against this, domestic demand is estimated at 5.5 million bags and export at 2.2 million bags. India's Apr-Dec turmeric export grew 25% to 85,500 ton on year. Last year, India exported 68,500 ton in the same period. 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.

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