Turmeric On NCDEX Settled Down By -0.19% At 6468

Turmeric on NCDEX settled down by -0.19% at 6468 on profit booking after prices gained due to higher export demand and poor arrivals. Anticipation of lower acreage during the current season also supported the price. As per data, about 27,448 tonnes arrived in June compared to 73,436 tonnes during last month. In Telangana, turmeric acreage as on 03-Jul-17, down 22% to 14,000 hectares as compared to last year acreage of 18,000 hectares.

The normal acreage is close to 47,000 hectares. Market arrivals dropped about 60% in June compared to May. As per spice board, Increased global demand for turmeric, especially in the pharmaceutical sector, drove its exports to attain figures of 1,16,500 tonnes in volume and crossed Rs 1,241 crore in value terms in 2016-17.

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