International Spice Commodities Update – Turmeric

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All Turmeric contracts ended up at around 4 percent due to strong  demand in spot markets. Despite high production estimates, prices rose due to bulk buying by stockists in local markets especially from  Delhi, Bihar, and Kolkata. A likely increase in export demand also provided mild support to domestic prices.

However, in the long term, turmeric prices may fall on high output estimates as high prices last year led farmers to bring more area under turmeric. According to sources, stocks of turmeric are seen at 1.2 million bags compared with two hundred thousand bags a year ago.  Arrivals of fresh crop have started in small quantities and may gain pace during March-April.

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