NCDEX August Turmeric Resumes Its Uptrend On Friday

NCDEX August Turmeric resumes its uptrend on Friday after drop in the previous day and closed 8.8% higher last week. Still there is good physical demand from upcountry buyers and stockists as Telangana, highest producing turmeric state, has received large deficient rains (-48% LPA) last week. 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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