Turmeric futures recover further on Thursday

Turmeric futures recover further on Thursday supported by short covering by the market participants. The prices have been under pressure as new season turmeric is hitting the market. There is an expectation that there will be improvement in exports demand as prices have been low. Currently supplies from the new season turmeric have been lower during first 10 days March at 22,360 tonnes compared to 31,536 tonnes last year, as per Agmarknet data.

The export of turmeric is down by 16% to 79,372 tonnes for the first 9 month of FY 2017/18 compared to last years’ exports.

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