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Turmeric Sees Lackluster Demand

Capital Market/ 16:34 , May 23, 2014

Turmeric prices slipped amid lackluster demand today. The prices have come off their highs around Rs 6500 per quintal in Nizamabad but not much demand is emerging amid calls of a good crop. Arrivals remain steady in spot market in Nizamabad and supplies are expected to increase in coming days. However, the recent rainfall in Andhra Pradesh is likely to keep momentum supported for Turmeric in near term. India exported turmeric of 50,500 tonnes for Rs. 408.28 crore during the period April to November 2013, witnessing a rise of 11% and 41% respectively in volume and value of exports over the same period last year. Spot prices are trading at Rs 6028 per quintal, almost unchanged on the day.

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