Turmeric On NCDEX Settled Down By -3.97% At 5654

Turmeric on NCDEX settled down by -3.97% at 5654 amid sufficient stocks at the spot markets following pick-up in arrivals from producing belts. 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. 

Turmeric arrivals in the country lower in April to 92,964 tonnes compared to 1,35,887 tonnes during March, as per the Agmarknet data. The lower arrivals are due to poor realization by the farmers. 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 Nizamabad market estimated market supply was at 10000 quintals, lower by 10000 quintals as against previous day.

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