Turmeric on NCDEX settled up by 1.48% at 6876 on rising domestic as well as export demand for the new turmeric at the spot market. Though, some gains were capped on expectations of higher output from the producing regions. Turmeric output is expected to be around 7.5-8 million bags. Reports showed that the turmeric arrivals in the country increase to 28,337 tons last week (20-25 Feb) compared to 7,300 tons during previous week. Though, some losses were capped on rising upcountry demand. On the export front, country exported about 74,524 tons; up by 32% during April-Nov period compared to last year exports of 56,471 tons. Prices may decline due to pressure of arrivals but improved domestic and export demand for the new turmeric may support prices. 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. Around 5,200 bags, including 2,400 bags of Mysore Eight variety of turmeric, arrived for sale and all the new turmeric was sold for a maximum price of Rs. 8,400 a quintal. Finger turmeric fell by Rs. 50 to Rs. 100 a quintal, but the price of the root variety improved by Rs. 100 a quintal. In Nizamabad, a major spot market in AP, the price ended at 7000 Rupees gained 20 Rupees. Technically now Turmeric is getting support at 6784 and below same could see a test of 6692 level, And resistance is now likely to be seen at 6964, a move above could see prices testing 7052.

Trading Ideas:

# Turmeric trading range for the day is 6692-7052.

# Turmeric prices gained on rising domestic as well as export demand for the new turmeric at the spot market.

# Though, some gains were capped on expectations of higher output from the producing regions.

# Turmeric output is expected to be around 7.5-8 million bags.

# In Nizamabad, a major spot market in AP, the price ended at 7000 Rupees gained 20 Rupees.