Turmeric futures recovered a little on Wednesday due to lower level buying. There are reports of good production from new season crops which may pressurize prices as the harvesting begins in the next month. Turmeric Dec’16 delivery contract on NCDEX closed 0.11% higher to settle at Rs 7,254 per quintal. Currently the supplies are for medium and poor quality in December till new crop arrives. However, good demand and dwindling supplies in the physical market may keep the prices above Rs. 7000 per Quintal. On the export front, country exported about 51,147 tonnes of turmeric during April-August period up by 32% compared last year, as per government data.
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