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Turmeric News - Turmeric Market Sentiment
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Turmeric Market Sentiment

Mixed sentiment was witnessed in the Turmeric spot market during last week. Turmeric supply rose by 23.05% from the past 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. Last year same period mostly markets were closed due to Covid-19 lockdown. 
 
Currently, at Nizamabad spot market Turmeric NCDEX quality prices reported up by 5.13% as compared to last year’s same period. Turmeric new crop supply continues at Nizamabad market and around 4,300 bags (1 bag = 70 Kgs) arrive in mandi yard on an average daily basis. 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 expect, prices to move in a range between INR 8,100 – 8,800 per quintal in the coming days. If farmers start selling more aggressively as current prices are higher than last year, the prices may temporarily decline below our forecast range.