Turmeric ended weak on sluggish exports, rising arrivals and dull domestic enquiries. Turmeric exports in January 2010 stood at 3,250 tonnes, down 22.61 tonnes a year ago, the Spices Board said. In Nizamabad, a major spot market in Andhra Pradesh, the price gained 56 rupees to end at 8,835 rupees. Turmeric arrivals usually start in mid-January in small quantities, gain momentum from March and continues through June. Turmeric yesterday we have seen that market has moved -1.6%. Market has opened at 7700 & made a low of 7548 versus the day high of 7719. The total volume for the day was at 11190 lots and the open interest was at 26880.Support for turmeric is at 7496 below that could see a test of 7436. Resistance is now seen at 7667 above that could see a resistance of 7778.

Trading Ideas:

Turmeric trading range is 7436-7778.

Turmeric ended weak on sluggish exports and dull domestic enquiries

Turmeric exports in January 2010 stood at 3,250 tonnes

Yesterday we have seen that open interest at 26880 and volume at 11190 lots.

MARKET LOOKS TO HAVE A STRONG SUPPORT @ 7380.WILL WAIT AS CORRECTION IS DUE.

Spot turmeric prices gained 56 rupees to end at 8,835 rupees per 100 kg