NCDEX TURMERIC MARKET UPDATE

Turmericsettled down by -0.98% at 8102 tracking weakness in spot demand amid heavy arrivals from producing belts. Good rains in second part of September in southern peninsula region may enhance the turmeric production and quality. Turmeric sowing area reported high in Maharashtra and Tamil Nadu state during the current sowing period. As per dept of commerce data, turmeric exports during April-Jul, 2015 pegged at 32,158 tonnes while the export for the 2014-15 is 90,738 tonnes compared to 78,360 tonnes in FY14. Turmeric sowing In AP, is recorded at 15,664 hectares increase over last years’ acreage as well normal sowing area progress however in Telangana, the sowing area is lower than the normal sowing area at 40,823 hac compared to 43,470 hac last year.
Trading Ideas:
Turmeric trading range for the day is 7948-8328.
Turmeric prices ended with losses tracking weakness in spot demand amid heavy arrivals from producing belts.
Good rains in second part of September in southern peninsula region may enhance the turmeric production and quality.
NCDEX accredited warehouses turmeric stocks dropped by 30 tonnes to 10303 tonnes.
In Nizamabad, a major spot market in AP, the price ended at 8171.05 rupees dropped -18.1 rupees.


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