Turmeric yesterday we have seen that market has moved -0.71% on estimates of higher production due to expanded area and hopes of higher yields. Yields are expected to go up by 10 percent as rains were very good in major growing areas. So far weather conditions are good and we are expecting a bumper crop. In Nizamabad, a major spot market in AP, the price ended at 14520 rupees dropped by -168.5 rupees. Market has opened at 13500 & made a low of 13166 versus the day high of 13566. The total volume for the day was at 9115 lots and the open interest was at 9310. Support for turmeric is at 13229 below that could see a test of 12997. Resistance is now seen at 13629 above that could see a resistance of 13797.

Trading Ideas:

Turmeric trading range is 12997-13797.

Turmeric ended weak on estimates of higher production due to expanded area

Turmeric is having resistance at 13629 and support at 13229 level.

NCDEX accredited warehouses turmeric stocks rose 45 tonnes to 4463 tonnes.

In Nizamabad, a major spot market in AP, the price ended at 14520 rupees dropped by -168.5 rupees.