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Turmeric Trading Range For The Day Is 6822-7102
Turmeric on NCDEX settled down by -0.86% at 6928 on rising arrivals as the harvesting is going on in key producing states. Moreover, turmeric acreage in Telangana and Andhra Pradesh was higher this year as compared to last year. Production of turmeric in Telangana is seen rising 35% on year to 251,000 tn 2016-17 (Jul-Jun) due to favourable rains, while May contracts traded higher on improving domestic and up-country demand at the spot market. Country exported about 74,524 tons; up by 32% during April-Nov period compared last year exports of 56,471 tons. The supplies are improving and there is good demand for the new season crop too.
The harvesting is going on in key producing states – Maharashtra, Tamilnadu and Karnataka. On the export front, country exported about 74,524 tonnes, up by 32% during April-Nov period compared last year exports of 56,471 tonnes, as per government data. Spot prices of turmeric edged up at Erode markets as arrival of new turmeric increased. Around 1,500 bags of new Mysore Eight variety arrived for sale and the traders purchased all the 1,500 bags.Get us on http://www.ripplesadvisory.com click here.
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