Turmeric on NCDEX settled down by -0.25% at 8140 on profit booking after gaining due to pickup in physical demand at the spot market.

 The prices of turmeric is moving sideways due to mixed fundamentals of good sowing acreage coupled with dry weather conditions in growing areas. Turmeric acreage in Telangana as on 3 Aug was up 14.5% at 43,000 hectares as compared to 37,780 hectares last year.

The acreage of turmeric is higher compared to normal in both states. As per dept of commerce data, turmeric exports in April- May 2016 increased by 31% compared to last year at 21,256 tonnes. In 2015-16, 85,426 tonnes exported compared to 90,738 tonnes in 2014-15. 

Technically market is under fresh selling as market has witnessed gain in open interest by 4.78% to settled at 20510 while prices down -20 rupee, now Turmeric is getting support at 8096 and below same could see a test of 8054 level, And resistance is now likely to be seen at 8190, a move above could see prices testing 8242.    

We are provide all  Agricommodity Tips, Agri Commodity Market Tips, Ncdex Commodity Trading Tips to content this no 9827808090.