Turmeric Meaning:
In commodity market terminology, Turmeric refers to Curcuma Longa, an herbaceous plant of the ginger family. The plant originally comes from the South Asian tropics and is a yellow spice used widely in Indian, Thai and Persian cooking.

Turmeric Example:
Turmeric futures trade on the National Commodities and Derivatives Exchange or NCDEX and on the Multi-Commodities Exchange or MCX, both in India. The NCDEX contract is for 100 Kg and the MCX contract is for 10 metric tons, and both Turmeric futures contracts are quoted in Indian Rupees.