NCDEX August Turmeric Futures

NCDEX August Turmeric futures recovered sharpen on Monday after steep fall in the morning session on reports on below normal rains. However, good sowing progress and hoping of monsoon rains in turmeric sowing areas may keep the prices volatile. In Telangana, turmeric acreage as on 19-Jul-17, up 90% to 33,000 hectares as compared to last year acreage of 28,000 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 12,623 tonnes arrived in first 20 days in July compared to 20,623 tonnes in previous fortnight. 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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