Turmeric On NCDEX Settled Up By 3.64% At 6374



Turmeric on NCDEX settled up by 3.64% at 6374 due to higher export demand and poor arrivals. Anticipation of lower acreage during the current season also supported the price rise. The southwest monsoon hit Kerala coast before normal date initially progressed well but later turned week as a result many turmeric producing areas of south India got less than normal rains. Sowing has started in Nizamabad due to good rains but likely to be delayed in Salem and Erode (Tamil Nadu) due to below normal rains.

Turmeric sowing have commenced in South India. Sowing in AP is completed in 44 hectare versus 12 hectare last year in the same period. Acreage is expected to decline this year amid poor realisation by farmers and prevailing lower prices. This could also support turmeric prices in coming days. Andhra Pradesh government projected 2016-17 turmeric output at 155,000 ton up from 121,000 ton in the previous year. India exported 116,500 ton turmeric during 2016-17 up from 88,500 ton a year ago.

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