Turmeric futures wiped out early gains to end steady on Thursday and may inch higher in the next session on buying interest at low-levels driven by dwindling stocks and marginal local enquiries. Turmeric exports in December remained flat at 3,250 tonnes from a year ago, the Spices Board said. However, market can expect pressure from rising arrivals, weak exports and hopes of higher output to weigh on prices. In Nizamabad, a major spot market in Andhra Pradesh, the price slipped 34 rupees to 9,787 rupees. Turmeric arrivals usually start in mid-January in small quantities, gain momentum from March and continue through June. The total volume for the day was at 17230 lots and the open interest was at 23400.Support for tmc is at 7313 below that could see a test of 7184. Resistance is now seen at 7550 above that could see a resistance of 7658.

Turmeric trading range is 7351-7467.

Turmeric traded in the range and initially dipped as per expectation but look to hold above 7300 level

Pressure from rising arrivals, weak exports and hopes of higher output to weigh on prices

In Nizamabad, a major spot market in Andhra Pradesh, the price slipped 34 rupees to 9,787 rupees

SELL TMC APRIL BELOW 7340 SL 7394 TGT 7290-7245-7180.NCDEX

The total volume for the day was at 17230 lots and the open interest was at 23400.