Turmeric on NCDEX settled down by -0.75% at 7418 on anticipation of better climatic conditions in growing areas. Besides, decrease in physical demand from up-country buyers also weighed on turmeric prices. 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. This makes the total supply for 2015-16 at 3.57 lakh tonnes against the consumption demand of 3.46 lakh tonnes, leaving stocks of mere 0.11 lakh tonnes compared to 1.4 lakh tonnes in 2014-15, down by over 90 % We are provide all  Agricommodity Tips, Agri Commodity Market Tips and you can call us on :-9827808090.

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Turmeric trading range for the day is 7302-7546. 

Turmeric prices dropped of better climatic conditions in growing areas. Besides, decrease in physical demand from up-country buyers also weighed on turmeric prices.

NCDEX accredited warehouses turmeric stocks dropped by 20 tonnes to 7561 tonnes.In Nizamabad, a major spot market in AP, the price ended at 7890.45 rupees dropped -40.5 rupees.