Turmeric On NCDEX Settled Up By 1.76% At 7046

Turmeric on NCDEX settled up by 1.76% at 7046 tracking gains in spot demand supported apprehensions of fall in acreage. As per Andhra Pradesh Govt, normal Turmeric area reported around 17695 hectares. Turmeric sowing started, till date 7528 hectares sowing reported, last year it was reported 6079 hectares. As per Telangana Govt, normal Turmeric area reported around 47717 hectares, as on 19-07-2017 Turmeric sowing around 33035 hectares, last year it was reported 30068 hectares.

Andhra Pradesh State Co-operative Marketing Federation, also known as AP Markfed, will auction 48,500 tn turmeric in Aug-Nov through the NCDEX e-Markets Ltd's trading platform, a senior official of the state marketing body said. The AP Markfed had procured 48,500 tn turmeric from farmers in May after prices fell to 5,200 rupees per 100 kg. "The auction will take place on a fortnightly basis from the first week of August till November," the official said.

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