Turmeric yesterday we have seen that market has moved -1.84% due to estimates of higher production and sluggish export demand. It is expected that around 70 lakh bags would be the next year's production against a normal 45-50 lakh bags at national level. Turmeric prices will also take cues from demand from the overseas and domestic buyers. In Nizamabad, a major spot market in AP, the price ended at 16850 rupees dropped by -90.9 rupees. Market has opened at 14570 & made a low of 14100 versus the day high of 14758. The total volume for the day was at 4115 lots and the open interest was at 4300.Support for turmeric is at 14035 below that could see a test of 13739. Resistance is now seen at 14693 above that could see a resistance of 15055.

Trading Ideas:

Turmeric trading range is 13720-15036.

Turmeric ended lower due to estimates of higher production

Turmeric is having resistance at 14440 and support at 14200 level.

NCDEX accredited warehouses turmeric stocks fell 20 tonnes to 2861 tonnes.

In Nizamabad, a major spot market in AP, the price ended at 16850 rupees dropped by -90.9 rupees.