Expect Turmeric prices to correct: Sharekhan

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Sharekhan expects turmeric prices to correct in medium term. Turmeric production this year is expected to be slightly above 42 lakh bags, which is higher than 40 lakh bags last year, but lower than the earlier estimate of 44-45 lakh bags.

Sharekhan's Agri-commodity report on Turmeric:

No major activity was witnessed at domestic markets as export market was on holiday. Steady demand was observed at local markets. New crop will start arriving from mid-January and continue till April. Turmeric production this year is expected to be slightly above 42 lakh bags, which is higher than 40 lakh bags last year, but lower than the earlier estimate of 44-45 lakh bags. The revised production estimate is lower than the earlier estimate due to untimely monsoons in Tamil Nadu. We expect turmeric prices to correct in medium term.

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