Turmeric yesterday we have seen that market has moved -1.04% on hopes of higher acreage, sluggish overseas inquires and weak demand from the local market.  Farmers may increase acreage under the spice by up to 35 percent in 2010/11 on a surge in turmeric prices and forecast of normal monsoon. India's turmeric exports fell 11 percent to 14,600 tonnes in April-June 2010 from the same period a year ago. Market has opened at 15040 & made a low of 14802 versus the day high of 15088. The total volume for the day was at 3965 lots and the open interest was at 8485.Support for turmeric is at 14772 below that could see a test of 14644. Resistance is now seen at 15058 above that could see a resistance of 15216.

Trading Ideas:

Turmeric trading range is 14644-15216.

Turmeric ended weak on hopes of higher acreage and sluggish overseas inquires

Turmeric looks to have resistance at 15060 and support is at 14770.

Spread between Turmeric AUG & SEP contracts yesterday traded in the range of -448 to -376.

India's turmeric exports fell 11 percent to 14,600 tonnes in April-June 2010