Jul Turmeric Closed Lower

NCDEX Jul Turmeric closed lower due to fresh selling on Monday as market participants are expecting higher acreage of turmeric in Andhra Pradesh and Maharashtra following good rains this monsoon. In June, prices have surged more than 3.7% on expectation of lower supplies in coming months. Supplies from the new season turmeric have been lower during June at 16,691 t (Vs 27,710 t) compared last year, as per Agmarknet data. The export of turmeric was down by 24% at 10,462 tonnes in April 2018 compared to last years’ exports. Exports are lower by 15.5% in first 4 month of current year compared to last year.

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