Market News

Market News

Higher Arrivals ground turmeric

The Hindu Business Line | Erode | January 12, 2018

Spot turmeric prices decreased at Erode markets as arrivals rose. Almost all the traders purchased quality turmeric without quoting a higher price. On Friday, 7,500 bags arrived for sale and 65 percent were sold. The finger variety was down ₹200 a quintal in all the markets and the root variety by ₹100. At the Erode Turmeric Merchants Association, the finger turmeric went for ₹5,655-8,609 a quintal; the root variety for ₹5,389-7,909. Of the 3,750 bags offered, 1,603 were sold.


N-E monsoon may bid farewell by Monday

Hindu Business Line | January 13, 2018


The 2017 North-East monsoon, which would be best known for rearing a very severe cyclonic storm Ockhi in the Arabian Sea, may draw to a close by Monday, an India Met Department (IMD) update said on Friday.

Seasonal rainfall is likely to cease over Tamil Nadu, Puducherry, Kerala, and adjoining parts of Andhra Pradesh and Karnataka by Monday, the national forecaster said.

The season normally ends by December end, but an animated Bay of Bengal had produced an end-of-the-season low-pressure area earlier this month.

It had weakened into a trough closer to Sri Lanka and Tamil Nadu and is still producing some rains.

Sub-divisions wise data

Most of the Met subdivisions in the South recorded ‘normal’ rainfall in IMD parlance (a deficit not exceeding 20 percent), but Tamil Nadu (-10 percent), Kerala (-7 percent) and South Interior Karnataka (-4 percent) face some shortfall.

Rayalaseema (+19 percent), North Interior Karnataka (+7 percent) and Telangana (no change) were gainers in that order, while Coastal Andhra Pradesh (-48 percent) and Coastal Karnataka (-18 percent) recorded huge deficits.

Lakshadweep (+8 percent) too saw itself in the positive category, mainly due to rain dumped over the archipelago by Ockhi which had started intensifying in its neighbourhood.

The rainfall figures given above are for the season starting on October 10 and ending in December 31. The rains have mostly dried up since the dawn of the New Year except in parts of Tamil Nadu.