Turmeric yesterday we have seen that market has moved -1.36% on anticipation of higher production estimation and technical cues. Turmeric production is expected to be better and is projected at 67-69 lakh bags as compared 48 lakh bags during the previous year. In long term (December onwards), prices are likely to remain bearish due to better production estimates of turmeric in 2010-11.  In Nizamabad, a major spot market in AP, the price ended at 14832.5 rupees gained by 124.2 rupees. Market has opened at 13300 & made a low of 12772 versus the day high of 13330. The total volume for the day was at 4110 lots and the open interest was at 8630.Support for turmeric is at 12781 below that could see a test of 12497. Resistance is now seen at 13339 above that could see a resistance of 13613.

Trading Ideas:

Turmeric trading range is 12497-13613.

Turmeric ended weak on anticipation of higher production estimation and technical cues

Turmeric is having resistance at 13339 and support at 12781 level.

Turmeric production is expected to be better and is projected at 67-69 lakh bags

In Nizamabad, a major spot market in AP, the price ended at 14832.5 rupees gained by 124.2 rupees.