Turmeric On NCDEX Settled Up By 1.66% At 6016

Turmeric on NCDEX settled up by 1.66% at 6016 amid rising physical demand coupled with diminishing supplies. However upside seen limited as there were good rains in last few days in southern peninsula. 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 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. At Nizamabad market, sources reported arrivals at 4000 quintals, higher by 500 quintals as compared to previous day.

At Warangal market estimated market supply was at 2000 bags, lower by 500 bags as compared to previous day. The price of the spot turmeric increased. At the Erode Turmeric Merchants Association Sales yard, finger turmeric sold at Rs. 5,888 to 7,388 a quintal, root variety sold at Rs. 5,544 to Rs. 6,234 a quintal.

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