Turmeric yesterday we have seen that market has moved -1.99% on higher output hopes and poor exports.  Adequate rainfall in major turmeric crop growing states such as Maharashtra, Andhra Pradesh and Tamilnadu will boost the crop growth in the current year. Turmeric crop reaches to vegetative to corm development stage in most of the areas. The total stocks of turmeric are currently at 11 lakh bags against 7 lakh bags reported last in the same period. In Nizamabad, a major spot market in AP, the price ended at 14911.75 rupees dropped by -425.75 rupees. Market has opened at 12940 & made a low of 12500 versus the day high of 12940. The total volume for the day was at 5490 lots and the open interest was at 9955.Support for turmeric is at 12353 below that could see a test of 12207. Resistance is now seen at 12793 above that could see a resistance of 13087.

Trading Ideas:

Turmeric trading range is 12207-13087.

Turmeric ended lower on higher output hopes and poor exports

Turmeric is having resistance at 12793 and support at 12353 level.

NCDEX accredited warehouses turmeric stocks rose 446 tonnes to 5284 tonnes.

In Nizamabad, a major spot market in AP, the price ended at 14911.75 rupees dropped by -425.75 rupees.