Turmeric on NCDEX settled down by -1.08% at 7886 on reports of good rains forecast in turmeric growing area in south India. Further, arrival of medium quality turmeric in physical market too fuelled the downtrend. 

 Though 2015-16 output was lower overall availability was comfortable because of higher carry forward stocks. Turmeric production for the current crop year (2015-16) is estimated to be around 315,000 tons compared to the previous year production of 324,000 tons. Only local hybrid turmeric and other medium quality turmeric arrived for sale and 66 % stocks were sold. 

In Nizamabad, a major spot market in AP, the price ended at 8388.9 rupees dropped -30.5 rupees.Technically, now Turmeric is getting support at 7836 and below same could see a test of 7788 level, And resistance is now likely to be seen at 7946, a move above could see prices testing 8008.

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