Turmeric sowing has been completed and output is expected by bumper as standing crop is pest free due to favorable weather conditions. India exported about 51,147 ton in 2016/17 until August which is up by 32% compared to last year in the corresponding period of 38,761 ton, as per the data released by Department of Commerce.

 In Nizamabad, a major spot market in AP, the price ended at 7630 rupees remains unchanged at0 rupees.Technically market is under fresh selling as market has witnessed gain in open interest by 0.53% to settled at 7630 while prices down -30 rupee, now Turmeric is getting support at 7224 and below same could see a test of 7130 level, And resistance is now likely to be seen at 7400, a move above could see prices testing 7482.

                                 Trading Ideas

1. Turmeric trading range for the day is 7130-7482.

2. NCDEX accredited warehouses turmeric stocks dropped by 110 tonnes to 2319 tonnes.

3. In Nizamabad, a major spot market in AP, the price ended at 7630 rupees remains unchanged at0 rupees.