Turmeric yesterday we have seen that market has moved -1.76% on prospects of bumper crop after farmers expanded acreage under the spice. Area under turmeric in southern states of Andhra Pradesh and Karnataka has risen 21.5 percent and 19 percent respectively in 2010/11 as the spice gave higher returns last year. In Nizamabad, a major spot market in Andhra Pradesh, the price ended at 14305.55 rupees gained by 78.3 rupees. Market has opened at 13126 & made a low of 12806 versus the day high of 13130. The total volume for the day was at 7125 lots and the open interest was at 7500.Support for turmeric is at 12771 below that could see a test of 12627. Resistance is now seen at 13095 above that could see a resistance of 13275.

Trading Ideas:

Turmeric trading range is 12635-13283.

Turmeric ended lower on prospects of bumper crop

Turmeric looks to have resistance at 13000 and support is at 12800.

Area under turmeric in southern states of Andhra Pradesh has risen 21.5 percent

In Nizamabad, a major spot market in Andhra Pradesh, the price ended at 14305.55 rupees dropped by 0 rupees.