Turmeric yesterday we have seen that market has moved -2.26% on good sowing prospects in the mandis as the rates try to find some support at these lower levels on expected pick up in domestic and export demand in coming days. Reports of rains in growing areas in Andhra Pradesh kept sentiments down. Low demand and reports of higher production and stocks in mandis are likely to pressurize the prices to some extent. There are expectations however of demand rising in coming weeks that could support the falling prices. Turmeric arrivals in the benchmark Nizamabad mandi stood and the arrivals at Erode in the state of Tamil Nadu stood steady at 10,000 bags. In Nizamabad, a major spot market in AP, the price ended at 7300 rupees dropped by -50 rupees. Market has opened at 7240 & made a low of 7022 versus the day high of 7284. The total volume for the day was at 5555 lots and the open interest was at 9130.Support for turmeric is at 6985 below that could see a test of 6873. Resistance is now seen at 7247 above that could see a resistance of 7397.  

Turmeric trading range is 6873-7397.

Turmeric moved -2.26% on good sowing prospects in the mandis

Low demand and reports of higher production and stocks in mandis are likely to pressurize the prices

NCDEX accredited warehouses turmeric stocks rose by 495 tonnes to 3650 tonnes.

TURMERIC TECHNICALLY IN OVERSOLD ZONE MAY SEE JUMP TODAY ABV 7160 LEVEL

In Nizamabad, a major spot market in AP, the price ended at 7300 rupees dropped by -50 rupees.