Turmeric

 Rates short up for Turmeric as falling arrivals of the new crop amidst pick up in Festive season demand from North India and rising exports kept trend firm and supported the prices at these very low levels. Arrival pressure of the new crop had been so far keeping pressure on the prices. But with arrivals slowly coming down, the prices could find some support over next few weeks.

 Short term trend likely to be very volatile but a fall in sowing area and delayed arrival of the new crop due to delayed Monsoon last year keeps overall market sentiments firm. Reports of damage to standing crop in TN, AP and Maharashtra also attributed to the prices getting strong support here. 

 A fall in sowing area in TN and Karnataka due to cyclone in October amidst delayed Monsoon could affect production adversely, as per market sources. Even as area in AP goes up, overall production is expected to come down—lending medium term support to prices

 As harvesting of the new crop picks up in coming weeks., this could prevent prices from shooting up a lot as arrivals rise. However, with demand from North India and Export demand expected to rise in coming weeks, the downtrend can be limited—as per market sources

 The demand is expected to pick up in coming days—lending some support to the prices. Traders anticipate prices are at very low levels and further downtrend may be limited. Last year production was low due to crop damage reports from AP and TN but stock levels from earlier years are high.

As per reports from Spice Board of India, the estimated exports of Turmeric during April-September 2014 was pegged at 43000 MT, up by 10% same period previous year in quantity and 15% in value terms, same period in 2013.