Turmeric slumps on favourable weather conditions

Fresh selling was seen in turmeric market due to limited demand by exporters and rainfall was reported in some parts of Andhra Pradesh and Karnataka.
Traders are expecting the total production in the range of 50-52 lakh bags in the previous year, down 20 lakh bags.
Sources also stated that around 64 lakh bags of total stocks have been reported in local mandies.