MUMBAI (Commoditiescontrol)- Turmeric prices witnessed significant gains last week given the slow down in arrivals at the major markets and good buying demand from the traders and stockists.
Following the win of BJP candidate in Nizamabad the farmers according to sources are anticipating that the government may come to their rescue and help them out with remunerative prices for their produce.
Farmers in Maharashtra are reported to have sold off their produce in the beginning of the season and
have limited material available with them.
Traders from Nizamabad were active in purchasing materials from Basmatnagar for sale to north Indian markets.
With the onset of southwest monsoon shortly the progress of monsoon in the months of June and July will be very critical for sowing in the states of Tamil Nadu, Karnataka, Maharashtra and Telangana.
With the farmers in Nizamabad looking to shift to alternate crops like maize and cotton instead of turmeric will have to be closely watched. Markets will closely watch the sowing progress of farmers in Tamil Nadu.
(By Commoditiescontrol Bureau)
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