Turmeric Futures settled 1.58% down on Wednesday on account of selling by the market participants. Better output this season is weighing on the prices.
However, there are some reports of crop damage in A.P due to in adequate rainfall in the month of October. Crop damage would be around 10%.
Production, Arrivals and Exports
Arrivals in Nizamabad stood at 500 bags while Erode market witnessed arrivals of 12,000 bags on Wednesday.
Turmeric production for the year 2011-12 is projected at 82 lakh bags (1 bag= 70 kgs) compared to 69 lakh bags in 2010-11. However, area covered under turmeric till 21st September 2011 stood at 0.67 lakh ha 2.9% lower as compared to 0.69 lakh ha in the previous year. Area covered under Turmeric in 2011-12 is however higher than the five year average of 0.63 lakh hectares.
According to Spices Board of India, exports of Turmeric during April 2011- August 2011 stood at 36,500 tonnes as compared to 24,000 tonnes in 2010-11, rise of 52%.
Courtesy: Angel Commodities
However, there are some reports of crop damage in A.P due to in adequate rainfall in the month of October. Crop damage would be around 10%.
Production, Arrivals and Exports
Arrivals in Nizamabad stood at 500 bags while Erode market witnessed arrivals of 12,000 bags on Wednesday.
Turmeric production for the year 2011-12 is projected at 82 lakh bags (1 bag= 70 kgs) compared to 69 lakh bags in 2010-11. However, area covered under turmeric till 21st September 2011 stood at 0.67 lakh ha 2.9% lower as compared to 0.69 lakh ha in the previous year. Area covered under Turmeric in 2011-12 is however higher than the five year average of 0.63 lakh hectares.
According to Spices Board of India, exports of Turmeric during April 2011- August 2011 stood at 36,500 tonnes as compared to 24,000 tonnes in 2010-11, rise of 52%.
Courtesy: Angel Commodities