Turmeric On NCDEX Settled Down -0.56% At 5366

Turmeric on NCDEX settled down -0.56% at 5366 tracking weak demand from exporters. However, turmeric arrivals have been lower as farmers are bringing less stock in the market due to poor realization.

Turmeric arrivals across the country during May 1-15 stood at 58,309 ton as against 114,737 ton a year ago, data showed. Better crop prospects in view of normal monsoon rains may continue to put pressure on prices. Andhra Pradesh government projected 2016-17 turmeric crops at 155,000 ton up from 121,000 ton in the previous year. According to traders, 2016-17 output is seen at 7.5 million bags of 70 kg each and with over stock of nearly 3 million bags total availability is expected around 10.5 million bags. As against this, domestic demand is estimated at 5.5 million bags and export at 2.2 million bags.

Country exported 97,596 ton turmeric during April-Feb up 26.6% compared to last year exports of 77,087 ton. At Erode market, arrivals were reported at 3000 quintals, higher by 1000 quintals from previous day’s arrivals. At Nizamabad market , total arrivals are at 4000 quintals, steady as against previous day’s arrival. The price of the turmeric was improved. At the Erode Turmeric Merchants Association Sales yard, finger turmeric sold at Rs. 5,469 to Rs. 7,608 a quintal, root variety sold at Rs. 5,191 to Rs. 6,215 a quintal

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