Turmeric yesterday we have seen that market has moved 0.07% as higher area under the spice and sluggish overseas inquires weighed on sentiment. Area under turmeric in southern states of Andhra Pradesh and Karnataka have risen 21.5 percent and 19 percent respectively in 2010/11, as the spice gave higher returns last year. Farmers have increased the acreage under turmeric as they have got higher returns last year. Market has opened at 14360 & made a low of 14300 versus the day high of 14580. The total volume for the day was at 2910 lots and the open interest was at 8005.Support for turmeric is at 14273 below that could see a test of 14147. Resistance is now seen at 14553 above that could see a resistance of 14707.

Trading Ideas:

Turmeric trading range is 14147-14707.

Turmeric ended flat as higher area under spice and sluggish overseas inquires weighed

Turmeric looks to have resistance at 14550 and support is at 14280.

Area under turmeric in Andhra Pradesh have risen 21.5 percent respectively in 2010/11

Spread between Turmeric AUG & SEP contracts yesterday traded in the range of -244 to -200.