NCDEX August Turmeric Fell On Thursday



NCDEX August Turmeric fell on Thursday mainly on profit booking by the market participants from 13 month higher prices. Still there is good physical demand from upcountry buyers and stockists as Telangana, highest producing turmeric state, has received large deficient rains (-60% LPA) last week. In Telangana, turmeric acreage as on 10-Jul-17, up 9.5% to 23,000 hectares as compared to last year acreage of 21,000 hectares. The normal acreage is close to 47,000 hectares. Market arrivals dropped about 60% in June compared to May. As per Agmarknet data, about 27,448 tonnes arrived in June compared to 73,436 tonnes during previous month. As per the data release by government, turmeric exports during first four months in 2017 is 42,855 tonnes, up 40.7% compared to last year same period.

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