Turmeric yesterday settled up 0.44% at 5070 on lower stocks and reports of delayed arrivals from growing areas. Turmeric cultivation usually starts in the last week of May and continues till August, and a lengthy harvesting process begins from January. Weather is clear and suitable for the growth of the crop. Production is expected higher as yields would be good. Turmeric sowing is complete in the top growing areas and the weather is favourable for the crop's growth. Turmeric sowing is almost complete in the leading cultivating areas and the crop is in good condition. At the spot market, Turmeric prices continued to rule flat in Erode markets on Tuesday as orders from North India are yet to come. Arrivals are on the rise on hopes of new orders coming, while stockists have begun to build inventories. Turmeric sowing is almost complete in the leading cultivating areas and the crop is in good condition. At the spot market, Turmeric prices continued to rule flat in Erode markets on Tuesday as orders from North India are yet to come. Arrivals are on the rise on hopes of new orders coming, while stockists have begun to build inventories. As per market sources, timely rainfall in major turmeric producing states such as Maharashtra, Tamilnadu and Andhra Pradesh led to steady sowing progress of turmeric crop in the current season. In the state of Andhra Pradesh, turmeric sowing had completed in nearly 0.43 lakh hectare. The futures prices were also pressurized by comfortable stocks in local mandies. In Nizamabad, a major spot market in AP, the price ended at 5073 rupees dropped -97 rupees. Now Turmeric is getting support at 5010 and below same could see a test of 4950 level, And resistance is now likely to be seen at 5120, a move above could see prices testing 5170.

Trading Ideas:

Turmeric trading range for the day is 4945-5165.

Sources ended with gains on lower stocks and reports of delayed arrivals from growing areas.

Weather is clear and suitable for the growth of the crop and production is expected higher as yields would be good

Turmeric sowing is complete in the top growing areas and the weather is favourable for the crop's growth.

In Nizamabad, a major spot market in AP, the price ended at 5073 rupees dropped -96.8 rupees.