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Turmeric on NCDEX settled up by 0.18% at 6776 due to rising demand at the spot market, despite of arrivals of inferior quality turmeric from the producing belts. Turmeric output is seen higher at 7 million bags thanks to higher sowing and favorable weather conditions. Prevailing high prices encouraged farmers to plant more turmeric this year. Expectations of increasing production in coming harvesting season and lowering export demand in recent months are putting pressure on turmeric prices at higher levels. 

                              Turmeric acreage in Telangana and Andhra Pradesh was higher this year as compared last year. 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.

                         Trading Ideas

1. Turmeric trading range for the day is 6688-6840.

2. Turmeric prices gained due to rising demand at the spot market, despite of arrivals of inferior quality turmeric from the producing belts.

3. Turmeric output is seen higher at 7 million bags thanks to higher sowing and favorable weather conditions.

4. Prevailing high prices encouraged farmers to plant more turmeric this year.

5. In Nizamabad, a major spot market in AP, the price ended at 7559.4 rupees gained 26.05 rupees.