NCDEX Turmeric Prices Plunge About 11.7% This Week

NCDEX Turmeric prices plunge about 11.7% this week tracking weak physical market prices amid lower demand from industrial buyers and reports of higher stocks available in the country. Turmeric arrivals in the country are lower in first 7 days of May at 11,528 tonnes compared to 20,703 tonnes during April (1-7), as per the Agmarknet data. The lower arrivals are due to poor realization by the farmers. On the export front, country exported about 97,596 tonnes during April-Feb period, up by 26.6% compared to last year exports of 77,087 tonnes, as per government data. There are expectations of improved demand in coming weeks as prices are lower.

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