Turmeric ended flat on short supplies and diminishing stocks but tepid exports and estimates of higher output weighed on sentiment. Spot prices are firm because local demand is supportive. But absence of export demand is weighing on sentiment. In October 2010, India's turmeric exports were 3,500 tonnes as compared to 3,975 tonnes a year ago. Turmeric arrivals in Nizamabad mandi slipped to 200 bags and the arrivals in Erode were around 3,000 bags. In Nizamabad, a major spot market in AP, the price ended at 16995 rupees gained by 137.1 rupees. Market has opened at 15074 & made a low of 14916 versus the day high of 15250. The total volume for the day was at
2655 lots and the open interest was at 4985. Support for turmeric is at 14859 below that could see a test of 14721. Resistance is now seen at 15193 above that could see a resistance of 15389.

Trading Ideas:

Turmeric trading range is 14726-15394.

Turmeric ended flat on short supplies and diminishing stocks

Turmeric is having resistance at 15100 and support at 14860 level.

NCDEX accredited warehouses turmeric stocks fell 20 tonnes to 2911 tonnes.

In Nizamabad, a major spot market in AP, the price ended at 16995 rupees gained by 137.1 rupees.