Turmeric on NCDEX settled up by 1.66% at 7362 amid expectations of pickup in domestic demand despite of expectations of higher output and favorable weather in the producing centers. Turmeric sowing has been completed in all the producing states and crop is pest free. Sowing is almost complete across major growing states and are mostly in vegetative stage with no reports of pests and diseases. Turmeric production in Telangana, a major spice producing state, is seen at 210,000 ton compared with 186,000 ton in the previous year, according to the first advance estimate by state agriculture department. India's Apr-Jun turmeric export jumped 20% to 29,000 tons due to increase shipment to gulf countries. The arrival of turmeric in the four key markets are increasing daily. After Diwali the arrival of turmeric was very poor with 400 bags on the first day of the market opening. Now, the arrival has increased. At the weekend market, 2,800 bags of turmeric arrived for sale. Despite poor upcountry orders for turmeric, the buyer traders, quoting increased prices, purchased 70 per cent stocks, as only medium and poor quality turmeric is arriving daily for sale. At the Erode Turmeric Merchants Association Sales yard finger turmeric was sold at Rs. 6,509 to Rs. 8,814 a quintal, and root variety was sold at Rs. 6,219 to Rs. 8,214 a quintal. Of the arrival of 805 bags, 393 bags were sold. In Nizamabad, a major spot market in AP, the price ended at 7611.55 rupees gained 27.8 rupees.Technically market is under fresh buying as market has witnessed gain in open interest by 2.75% to settled at 11405, now Turmeric is getting support at 7298 and below same could see a test of 7236 level, And resistance is now likely to be seen at 7404, a move above could see prices testing 7448.

Trading Ideas:

Turmeric trading range for the day is 7236-7448.

Turmeric prices ended with gained amid expectations of pickup in domestic demand despite of expectations of higher output

Turmeric sowing has been completed in all the producing states and crop is pest free..

NCDEX accredited warehouses turmeric stocks dropped by 85 tonnes to 2862 tonnes.

In Nizamabad, a major spot market in AP, the price ended at 7611.55 rupees gained 27.8 rupees.