Turmeric futures gains 3 per cent to Rs 4,240 a quintal at NCDEX. With an opening at Rs 4,130/quintal on Tuesday, the August contract touched a day’s high of Rs 4,272 and a low of Rs 4,120, according to BL report. The buying interest is likely to be increased as the dip in production is expected sharply next year. Market players expect that the low-cut rain fall in the turmeric growing regions to affect the future output.
Exports remained buoyant throughout the year. In March, exports increased to 7 per cent to 6,300 tonnes from 5,900 tonnes in the same period last year. While for the financial year March 2012, exports gained 62 per cent to 79,500 tonnes against 49,250 tonnes registered last year. This vast difference is mainly due to good demand amid low prices, added the report.
