Turmeric On NCDEX Settled Up 0.48% At 6226

Turmeric on NCDEX settled up 0.48% at 6226 on anticipation of rising demand in the physical market. However, some gains were capped on higher supplies from the producing regions. 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.

However, turmeric arrivals in the country is on higher side during second half of March at 79,534 tonnes compared to 63,965 tonnes during last month same period, 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. There are expectations of improved demand in coming weeks as prices are lower. At Erode market arrivals were reported at 8000 quintals, up by 3000 quintals from previous trading day.

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