Turmeric settled up 0.3% at 6624 tracking firmness in spot demand on buoyant purchases. Hybrid turmeric prices increased following the arrival of quality root variety. Buyers verified the hybrid variety, especially the root one and quoted higher prices. They purchased to fulfil upcountry demand. They also purchased hybrid finger, but quoted Rs. 100 a quintal lower than Monday. All the 600 bags of hybrid turmeric were sold. Of 5,100 bags that arrived for sale, 60 per cent was sold. Spot turmeric prices decreased by Rs. 200 a quintal and traders said that they have not received fresh orders. Of the 1075 bags put up for sale, 970 were traded. At Sangli market estimated market supply was at 400 quintals, lower by 600 quintals from previous trading day. At Erode market total arrivals are at 6000 quintals, higher by 500 quintals from previous day's arrivals. At Nizamabad market sources reported arrivals at 1800 quintals, higher by 600 quintals as against previous day. The sowing of new crop is still a major concern in states like Andhra Pradesh, Telangana and Tamilandu due to delayed monsoon rainfall and poor price realization by cultivators. Similar trend is also observing in Maharashtra as not much sowing has been reported in Sangli. In Nizamabad, a major spot market in AP, the price ended at 6293.75 rupees gained 33.25 rupees. Technically market is under short covering as market has witnessed drop in open interest by -0.44% to settled at 15905 while prices up 20 rupee, now Turmeric is getting support at 6574 and below same could see a test of 6524 level, And resistance is now likely to be seen at 6672, a move above could see prices testing 6720.

Trading Ideas:

Turmeric trading range for the day is 6524-6720.

Turmeric prices ended with gains tracking firmness in spot demand on buoyant purchases.

The receding stocks of turmeric in local mandies will encourage fresh buying from lower levels.

NCDEX accredited warehouses turmeric stocks gained by 10 tonnes to 1190 tonnes.

In Nizamabad, a major spot market in AP, the price ended at 6293.75 rupees gained 33.25 rupees.