Turmeric On NCDEX Settled Up By 3.99% At 7302

Turmeric on NCDEX settled up by 3.99% at 7302 tracking good physical demand as Telangana, highest producing turmeric state, has received large deficient rains (-60% LPA) last week. In Telangana, turmeric acreage as on 10-Jul-17, up 9.5% to 23,000 hectares as compared to last year acreage of 21,000 hectares. Though southwest monsoon hit Kerala coast before normal date but there are reports of below normal rains in several parts of southern India.

The normal acreage is close to 47,000 hectares. 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. 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. The price of the spot turmeric showed a slight increase in price.

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