Turmeric on NCDEX settled down by -1% at 6558 on heavy arrivals from the producing belts. Though, some losses were capped on rising domestic as well as exports demand at the spot market. New crop arrivals have started in all the major producing centres of Andhra Pradesh, Telangana, Maharashtra, Odisha. The arrivals of the new season turmeric in recent weeks have improved but the demand is not matching. The turmeric arrivals in the country increase to 54,641 tonnes during Feb 27- Mar 4 compared to 28,454 tonnes during previous week, as per the Agmarknet data. On the export front, country exported about 82,115 tonnes during April-Dec period, up by 28% compared to last year exports of 64,105 tonnes, as per government data. The price of the spot turmeric was decreased further.At Erode Turmeric Merchants Association Sales yard finger turmeric sold at Rs. 5,499 to 8,899 a quintal, root variety sold at Rs. 5,399 to 7,829 a quintal. At Regulated Marketing Committee finger turmeric sold at Rs. 6,834 to 8,369, root variety sold at Rs. 6,799 to 7,589. The supplies are improving and there is good demand for the new season crop too. The harvesting is going on in key producing states – Maharashtra, Tamilnadu and Karnataka. On the export front, country exported about 74,524 tonnes, up by 32% during April-Nov period compared last year exports of 56,471 tonnes, as per government data. In Nizamabad, a major spot market in AP, the price ended at 6542.85 Rupees dropped -117.15 Rupees.Technically market is under long liquidation as market has witnessed drop in open interest by -4.94% to settled at 13195, now Turmeric is getting support at 6490 and below same could see a test of 6422 level, And resistance is now likely to be seen at 6636, a move above could see prices testing 6714.

Trading Ideas:

Turmeric trading range for the day is 6422-6714.

Turmeric prices ended with losses on heavy arrivals from the producing belts.

The arrivals of the new season turmeric in recent weeks have improved but the demand is not matching.

NCDEX accredited warehouses turmeric stocks gained by 90 tonnes to 100 tonnes.

In Nizamabad, a major spot market in AP, the price ended at 6542.85 Rupees dropped -117.15 Rupees.