Turmeric On NCDEX Settled Down -1.38% At 6150

Turmeric on NCDEX settled down -1.38% at 6150 due to profit booking after prices gained due to good physical demand. Market arrivals dropped about 60% in June compared to May. 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 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. Good quality turmeric has been brought for sale by the farmers. At the Erode Turmeric Merchants Association Sales yard, finger turmeric sold at Rs. 5,966 to Rs. 7,656 a quintal, root variety sold at Rs. 5,566 to Rs. 6,744 a quintal.

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