Indian turmeric falls on profit-taking


Dec 18 (Reuters) – Indian turmeric futures fell on Wednesday as traders chose to book profit after a four-session rally, while weak export demand also weighed on sentiment.

* The most-actively traded turmeric contract for April delivery was down 0.38 percent at 6,370 rupees per 100 kg on the National Commodity and Derivatives Exchange (NCDEX) at 1033 GMT. It hit a contract high of 6,456 rupees on Tuesday.

* “Export demand is not picking up as expected. Supplies would increase with the harvest of the new crop,” said Sudha Acharya, an analyst at Kotak Commodities.

* Turmeric cultivation usually begins in the last week of May and continues until August. A lengthy harvesting process starts from January.

* Andhra Pradesh is the top turmeric cultivating state in the country.

* Spot turmeric rose 54.5 rupees to 5,411 rupees per 100 kg in Nizamabad, a key market in Andhra Pradesh.


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