Turmeric on NCDEX settled down by -1.45% at 6644 on heavy arrivals from the producing belts. Though, some losses were capped on receipt of some fresh upcountry demand for the turmeric at the spot market. The arrivals of the new season turmeric in recent weeks have improved so as demand. The turmeric arrivals in the country increase to 54,641 tonnes during Feb 27- Mar 4 compared to 28,454 tonnes during previous week, as per the Agmarknet data. On the export front, country exported about 82,115 tonnes during April-Dec period, up by 28% compared to last year exports of 64,105 tonnes, as per government data. The arrival of new turmeric has slightly increased to 1,500 bags as against the total arrival of 3,200 bags of turmeric for sale. At Erode Turmeric Merchants Association Sales yard finger variety sold at Rs. 5,174 to 9,011 a quintal, root variety sold at Rs. 5,095 to 7,715. At Regulated marketing Committee finger turmeric sold at Rs. 6,848 to 8,489. Root variety sold at Rs. 6,449 to 7,899 .At Erode Cooperative Marketing Society finger turmeric sold at Rs. 7,269 to 8,689. Root variety sold at Rs. 6,769 to 8,109. New crop arrivals have started in all the major producing centres of Andhra Pradesh, Telangana, Maharashtra, Odisha. In Nizamabad, a major spot market in AP, the price ended at 6760 Rupees gained 60 Rupees.Technically market is under fresh selling as market has witnessed gain in open interest by 4% to settled at 13910 while prices down -98 rupees, now Turmeric is getting support at 6564 and below same could see a test of 6482 level, And resistance is now likely to be seen at 6774, a move above could see prices testing 6902.

Trading Ideas:

Turmeric trading range for the day is 6482-6902.

Turmeric prices ended with losses on heavy arrivals from the producing belts.

New crop arrivals have started in all the major producing centres of Andhra Pradesh, Telangana, Maharashtra, Odisha.

The arrivals of the new season turmeric in recent weeks have improved so as demand.

In Nizamabad, a major spot market in AP, the price ended at 6760 Rupees gained 60 Rupees.