NCDEX August Turmeric Plunged More Than 3.4%

NCDEX August Turmeric plunged more than 3.4% on profit booking by the market participants from 8 month higher prices. However, good physical demand from upcountry buyers and stockists may support prices. In Telangana, turmeric acreage as on 13-Jul-17, up 14.3% to 24,000 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 8,627 tonnes arrived in first 15 days in July compared to 10,703 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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