Turmeric on NCDEX settled up by 1.72% at 7450 on expectation of fresh upcountry demand from November. However, upside seen limited on arrivals of medium and poor quality turmeric from the producing regions. The export of turmeric is down by 16.4% to 41,517 tonnes for the first 4 month of FY 2017/18 compared to last years’ exports. For 2017/18, turmeric sowing in Telangana, as on 27th Sep, down 1.5% to 44,956 hectares as compared to last year acreage of 45,633 hectares.

Trading Ideas:

* Turmeric trading range for the day is 7202-7646.

* Turmeric ended with gains on expectation of fresh upcountry demand from November.

* However, upside seen limited on arrivals of medium and poor quality turmeric from the producing regions.

* NCDEX accredited warehouses turmeric stocks gained by 40 tonnes to 2890 tonnes.

*In Nizamabad, a major spot market in AP, the price ended at 7433.35 Rupees gained 53.35 Rupees.

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