Turmeric on NCDEX settled down by -0.47% at 6802 amid reports of higher output amid poor export buying. In coming days, arrivals are expected to increase which could put pressure over prices. Prices may decline due to pressure of arrivals but improved domestic and export demand for the new turmeric may support prices. New crop arrivals have started in all the major producing centres of Andhra Pradesh, Telangana, Maharashtra, Odisha. Production in the ongoing season is expected to increase mainly on higher sowing area and favourable weather conditions in Maharashtra, Telangana and Andhra Pradesh etc. According to trade sources turmeric output is expected to be around 7.5-8 million bags. India's Apr-Sept turmeric export stood at 59,000 ton up 47% on year, according to Spices Board data. The arrival of new turmeric is slowly increasing. The traders quoted good prices and purchased all the 2,000 bags. At the Erode Turmeric Merchants Association sales yard, finger turmeric sold at Rs. 5,366 to Rs. 8,755 a quintal. The root variety was sold at Rs. 5,266 to Rs. 7,801 a quintal. Of the arrival of 2,625 bags, 1,247 bags were sold. At the Regulated Marketing Committee, finger turmeric sold at Rs. 6,899 to Rs. 8,599 a quintal. The root variety sold at Rs. 6,789 to Rs. 7,869 a quintal. Out of 1,309 bags for sale, 602 bags were sold. In Nizamabad, a major spot market in AP, the price ended at 7290 Rupees remains unchanged at0 Rupees. Technically market is under long liquidation as market has witnessed drop in open interest by -0.68% to settled at 13130 while prices down -32 rupees, now Turmeric is getting support at 6770 and below same could see a test of 6740 level, And resistance is now likely to be seen at 6840, a move above could see prices testing 6880.

Trading Ideas

# Turmeric trading range for the day is 6740-6880.

# Turmeric prices ended with losses amid reports of higher output amid poor export buying.

# According to trade sources turmeric output is expected to be around 7.5-8 million bags.

# India's Apr-Sept turmeric export stood at 59,000 ton up 47% on year, according to Spices Board data.

# In Nizamabad, a major spot market in AP, the price ended at 7290 Rupees remains unchanged at0 Rupees.