Riding high on the fall in kharif sowing acreage, turmeric prices on NCDEX crossed ₹10,000 a quintal-mark for first time since last February. Turmeric futures contract for October delivery on the exchange jumped four per cent to ₹10,326 a quintal on Friday. Turmeric sowing acreage in Maharashtra, Tamil Nadu, Andhra Pradesh and Telangana is projected to decline by 10-25 per cent compared to the previous season. Additionally, untimely rains in various places in Andhra Pradesh have caused damage to turmeric crops, leading to supply disruptions. The overall outlook for turmeric prices remains bullish due to the expected weakness in monsoon rains and the anticipated decrease in acreage, which will likely impact turmeric production, he said.

Source: The Hindu July 01, 2023 00:38 UTC