Turmeric On NCDEX Settled Up By 3.95% At 6688

Turmeric on NCDEX settled up by 3.95% at 6688 due to higher export demand and poor arrivals. Anticipation of lower acreage during the current season also supported the prices. However, upside seen limited due to good rains in South India. As per the data release by government, turmeric exports in April 2017 was 11,763 tonnes, down 12.6% from March 2017. Market arrivals dropped about 60% in June compared to May. As per data, about 27,448 tonnes arrived in June compared to 73,436 tonnes during previous 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. Turmeric sowing may be lower this year in Tamil Nadu due to lack of rains in the main producing areas. With the arrival of monsoon, farmers have started sowing in Andhra Pradesh, Telangana, Tamil Nadu, Odisha and Maharashtra.

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