Turmeric yesterday we have seen that market has moved -1% on the reports of the increased production of the commodity, as good rains in the growing areas of AP and Karnataka raised possibilities of a better crop this year. With sowing area in these 2 states expected to rise, production is also expected to rise. However, moderate domestic demand for the commodity has limited its downside. Turmeric arrivals in the Nizamabad mandi were steady at 500 bags and arrivals in the Erode mandi slightly improved to 3,500 bags from 2,000 bags. In Nizamabad, a major spot market in AP, the price ended at
14806.55 rupees gained by 34.35 rupees. Market has opened at 12078 & made a low of 11812 versus the day high of 12194. The total volume for the day was at 1925 lots and the open interest was at
2780. Support for turmeric is at 11823 below that could see a test of 11627. Resistance is now seen at 12205 above that could see a resistance of 12391.

Trading Ideas:

Turmeric trading range is 11627-12391.

Turmeric ended weak on the reports of the increased production

Turmeric is having resistance at 12040 and support at 11900 level.

Turmeric arrivals in the Nizamabad mandi were steady at 500 bags

In Nizamabad, a major spot market in AP, the price ended at 14806.55 rupees gained by 34.35 rupees.