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Turmeric Market Sentiment
Published on: May 09 2022, 07:49
By and large steady to weak sentiment was witnessed in the Turmeric spot market during last week. Turmeric supply fell by 37.13% from the previous week however as compared to last year as Farmers and Stockists were releasing their stocks as Turmeric prices reported higher as compared to last year same period. Currently, at Nizamabad spot market Turmeric NCDEX quality prices reported up by 8.97% as compared to last year’s same period.
In Maharashtra Turmeric market like Basmat, Nanded and Hingoli new crop supply traded around 50% to 55% as of now and Farmers and Stockists are holding rest of the produce as they are expecting higher prices in coming days.
AgriWatch expects, buyers in the medium term to remain active in the spot market with reducing moisture level in coming days. Lower ending stocks in 2022 compared to 2021 would be a supportive factor.
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