Turmeric On NCDEX Settled Up By 0.15% At 5396

Turmeric on NCDEX settled up by 0.15% at 5396 on anticipation of good demand. There was lower demand all season from upcountry and industrial buyers. Turmeric arrivals in the country are higher compared to last year in the month of May. As per data, about 72,120 tonnes arrived in May 2017 compared to 30,703 tonnes during May last year. Andhra Pradesh, the largest turmeric producing state in the country, is expected to boost output of the medicinal spice by 12% in 2017-18 helped by government's support for purchases if prices fall below the market intervention scheme price, officials said. Turmeric output is expected to rise to 173,000 tons in the crop season 2017-18 compared to 155,000 tons in the year ago period, said C H Durga, agricultural officer at Government of Andhra Pradesh. 

Turmeric yield is expected to jump to 86.64 quintal per hectare helped by sowing of new variety of the medicinal plant compared to 81.45 quintal per hectare in the year ago period. The government expects the area under turmeric cultivation to rise to 20,000 hectares in 2017-18 compared to 19,000 hectares in the crop year 2016-17. 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. In Nizamabad, a major spot market in AP, the price ended at 5430 Rupees dropped -7.5 Rupees.

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