India’s Turmeric supply down by 40 percent Reports of heavy rainfall causing crop damage

In January, the Turmeric price has been stable this month. However, the commodity experienced a price increase on two consecutive days this month, i.e., the 4th and 5th.

Market Trend 

• On Monday, January 10, the physical market for the spice was constant in most spot markets; however, futures ended on a higher note.
• The same day, the Sangli spot market experienced a slump where the price went down by $2,71 per 0,1 MT.
• Last week, the supply of Turmeric was down by 40 percent.
• The constant price resulted in stockists holding on to the products and waiting for the prices to go higher before releasing them in the market.

Arrivals 

On Monday, the arrival of Turmeric and its varieties in main spot markets were recorded as follows:

• Nizamabad recorded the arrival of 3,500 bags
• Duggirala was reported to have 500 bags in the market
• Sangli spot market received 4,500 bags.

Prediction 

There is a report of heavy rainfall causing crop damage due to waterlogging in Hingoli and Basmat of Maharashtra and parts of Andhra Pradesh and Telangana. Heavy rain may support the prices of the spice in the coming days. Lowering earlier stock in the market will also help the prices improve in the coming days.

 Price

Turmeric Finger (Salem, Double Polished, No.1)

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