Commodity Outlook for Turmeric by Kedia Commodity

Turmeric yesterday traded with the positive node and settled 0.72% up at 13700, on good demand from local traders in spot market amid weak supplies and lower stocks support has been seen from the spot market also where turmeric gained 203.5 rupees to end at 14,772 rupees. Area under turmeric in southern states of Andhra Pradesh and Karnataka have risen 21.5 percent and 19 percent respectively in 2010/11.

Enquiries have picked up in the spot market but supply is very limited, daily average arrivals at the Nizamabad market have come down to 500 bags against 1,000-1,500 bags during the first week of August. For today's session market is looking to take support at
13404, a break below could see a test of 13108 and whereas resistance is now likely to be seen at 13922, a move above could see prices testing 14144.      

Turmeric trading range is 13072-14108.

Turmeric jumped on good demand from local traders in spot market amid weak supplies.

India's turmeric exports fell 11%to 14,600 tonnes in April-June 2010.

Enquiries have picked up in the spot market but supply is very limited at the Nizamabad

SELL TMC SEPT ON BREAK BELOW 13680 SL 13760 TGT 13590-13465.NCDEX

At Unjha, Jeera gained 83 rupees to end at 14,294 rupees per 100 kg