Turmeric futures for Nov delivery closed lower but still trend looks sideways to lower due to beneficial rains in the southern peninsula. The export of turmeric is down by 16.4% to 41,517 tonnes for the first 4 month of FY 2017/18 compared to last years’ exports. For 2017/18, turmeric sowing in Telangana, as on 27th Sep, down 1.5% to 44,956 hectares as compared to last year acreage of 45,633 hectares.

Outlook

Turmeric futures expected to trade sideways to lower on anticipation of good production from turmeric growing areas in Telangana and Karnataka. However, the prices may rise if there is damage in turmeric fields in Telangana due to recent heavy rains.

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