Turmeric On NCDEX Settled Down By -3.98% At 5264

Turmeric on NCDEX settled down by -3.98% at 5264 amid weakness in spot demand due to supply pressure. There is steady demand in the physical market against higher stock levels. There was lower demand all season from industrial buyers. Turmeric arrivals in the country are lower in first 20 days of May at 46,168 tonnes compared to 96,995 tonnes during April (1-20), as per 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. At Sangli market, sources reported arrivals at 2000 quintals, lower by 1000 quintals from previous day’s arrivals.

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