Turmeric on NCDEX settled down by -1.4% at 6742 amid increasing crop supplies in all the major producing centres amid weak domestic and export buying. In coming days, arrivals of new crop is expected to increase especially in Telengana and Maharashtra region while domestic demand is expected to remain hand to mouth. Sources expect export demand later this month or early next month from gulf countries for the coming Ramzan festival. India's Apr-Sept turmeric export stood at 59,000 ton up 47% on year, according to Spices Board data. In the Delhi spot market turmeric single polish gattha was flat at Rs 7,500-7,600 per quintal amid sluggish demand. 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. Some traders have received fresh upcountry demand for the turmeric. At the Erode Turmeric Merchants Association Sales yard the finger turmeric sold at Rs. 5,366-9,211 a quintal, root variety sold at Rs. 5,211-7,879. At the Regulated Marketing Committee the finger turmeric sold at Rs. 6,818-8,441, root variety sold at Rs. 6,299- 7,709. At the Erode Cooperative Marketing Society finger turmeric sold at Rs. 6,865-8,659, root variety sold at Rs. 6,539-7,759. In Nizamabad, a major spot market in AP, the price ended at 6700 Rupees dropped -158.35 Rupees. Technically market is under long liquidation as market has witnessed drop in open interest by -2.59% to settled at 13375 while prices down -96 rupees, now Turmeric is getting support at 6686 and below same could see a test of 6630 level, And resistance is now likely to be seen at 6820, a move above could see prices testing 6898.

Trading Ideas:

Turmeric trading range for the day is 6630-6898.

Turmeric prices dropped amid increasing in crop supplies in all the major producing centres amid weak domestic and export buying.

The supplies are improving and there is weak demand for the new season crop.

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 6700 Rupees dropped -158.35 Rupees.