Turmeric Closed Lower

NCDEX Jul Turmeric closed lower for the third consecutive day on Monday due to on profit booking and good rains in turmeric growing areas in south India. It was trading sideways to lower during last 5 weeks due to steady demand and forecast of normal rains in south peninsula. In the last month, prices have fallen about 6% from its three months high levels due to profit booking by market participants. Supplies from the new season turmeric have been lower during May at 53,500 t (Vs 73,500 t) compared last year, as per Agmarknet data. The export of turmeric was down by 13% at 108,897 tonnes in FY 2017/18 compared to last years’ exports. Turmeric Exports in March was pegged at 10,410 tonnes is 22.4% lower on year but 31.58 % higher on month.

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