Turmeric yesterday we have seen that market has moved -0.41% as good rains in the major cultivating regions raised hopes of better crop, sluggish overseas inquires and weak spot demand.  Rains were good during the sowing period. Hopes of higher output is putting pressure on prices. In Nizamabad, turmeric prices settled at 15,105 rupees. Market has opened at 14480 & made a low of 14352 versus the day high of 14500. The total volume for the day was at 2655 lots and the open interest was at 7885.Support for turmeric is at 14335 below that could see a test of 14269. Resistance is now seen at 14483 above that could see a resistance of 14565.

Trading Ideas:

Turmeric trading range is 14269-14565.

Turmeric ended weak on good rains, sluggish overseas inquires and weak spot demand

Turmeric looks to have resistance at 14480 and support is at 14335.

Spread between Turmeric AUG & SEP contracts traded in the range of -182 to -50.

In Nizamabad spot prices settled at 15105 per 100 kg