Turmeric settled flat as prices pared most of its gains amid anticipation of good rains at the producing belts. As per market sources, production year 2015-16 started with carry-forward stocks of 1.4 lakh tonnes compared to 2.1 lakh tonnes in 2014-15. The consecutive back-to-back droughts in India have impacted turmeric production in 2014-15 and 2015-16. India produced 2.52 lakh tonnes of turmeric in 2015-16, lower by 15 per cent than the previous year. Production declined on account of lower acreage in Tamil Nadu and comparatively low yield in Maharashtra, Andhra Pradesh, and Telangana.

                           Trading Ideas 

• Turmeric trading range for the day is 7294-7566.             

• Turmeric settled flat as prices pared most of its gains amid anticipation of good rains at the producing belts.  

• India produced 2.52 lakh tonnes of turmeric in 2015-16, lower by 15 per cent than the previous year.  

• NCDEX accredited warehouses turmeric stocks dropped by 145 tonnes to 7506 tonnes.

• In Nizamabad, a major spot market in AP, the price ended at 7804.55 rupees dropped -37.55 rupees. 

   

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