Turmeric On NCDEX Settled Up By 0.06% At 6480

Turmeric on NCDEX settled up by 0.06% at 6480 on good physical demand as the physical arrivals have decreased drastically in June. As per data, about 27,448 tonnes arrived in June compared to 73,436 tonnes during last month. Moreover, there is an anticipation of lower acreage during the current season in Tamilnadu also supported the price rise. 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. This season the prices have been lower on less demand from upcountry and industrial buyers. Turmeric arrivals in the country are higher in the month of May. Turmeric sowing may be lower this year in Tamil Nadu due to lack of rains in the main producing areas.

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