Spot Market Update: Turmeric Slumps On Waning Demand

Poor exporters buying has eroded previous gains in turmeric market today. The market sources added that the total production of turmeric is likely to decline by almost 2-3 lakh bags in the current year due to poor rainfall in major producing states such as Tamilnadu. The total daily arrivals of 1000 bags have been reported in Nizamabad mandi, while 3000-3500 bags in Erode mandi. The spot prices of turmeric decreased by Rs 20 per quintal , with the price range of Rs 6450-6600 per quintal.