On NCDEX settled up by 1.1% at 7324 on short covering tracking firmness in spot demand after prices dropped as output is expected to improve in 2017-18 on good monsoon in the Southern India. Turmeric output may rise at 1-1.1 million tons in 2017-18 season compared to last year. In 2016-17, turmeric output is pegged at 1.13 million tons by government in the third advance estimate, higher from 943,000 tons in 2015-16. Moreover, despite of marginally lower sowing this year turmeric production is expected to rise on favourable rainfall.

Trading Ideas:

* Turmeric trading range for the day is 7156-7452.

* Turmeric prices gains on short covering tracking firmness in spot demand after prices dropped as output is expected to improve in 2017-18.

* In 2016-17, turmeric output is pegged at 1.13 million tons by government in the third advance estimate, higher from 943,000 tons in 2015-16.

* NCDEX accredited warehouses turmeric stocks gained by 30 tonnes to 2850 tonnes.

* In Nizamabad, a major spot market in AP, the price ended at 7380 Rupees gained 37.15 Rupees.

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