NCDEX Turmeric Jumps 3.43% On Monday

NCDEX Turmeric jumps 3.43% on Monday to close at 5,970 per quintal, which is highest in 7 weeks. This is second successive session gain due to rising physical demand coupled with diminishing supplies. 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. As per Agmarknet data, about 6,378 tonnes arrived last week compared to 11,942 tonnes during previous week.

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.

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