NCDEX July Turmeric Falls On Profit Booking At Higher Levels

NCDEX July Turmeric falls on profit booking at higher levels but expected to trade higher due to higher exports and poor arrivals. There is an anticipation of lower acreage during the current season in Tamilnadu also supported the price rise. Market arrivals dropped about 60% in June compared to May.

As per Agmarknet data, about 20,506 tonnes arrived in the first 20 days of June compared to 49,726 tonnes during last month same period. As per spice board, Increased global demand for turmeric, especially in the pharmaceutical sector, drove its exports to attain figures of 1,16,500 tonnes in volume and crossed Rs 1,241 crore in value terms in 2016-17. This season the prices have been lower on less demand from upcountry and industrial buyers. Turmeric arrivals in the country are higher in the month of May.

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