Turmeric on NCDEX settled down -2.18% at 6998 on account of fall in physical and export demand at the spot market. Though, some losses were capped on reports of lower output due to wet weather in turmeric growing areas. 

Turmeric area reported up due to favourable weather condition at the sowing period which likely to impact production. As per production estimates, turmeric production likely to higher by around 7.5% during current year. As per market sources, production year 2015-16 started with carry-forward stocks of 1.4 lakh tonnes compared to 2.1 lakh tonnes in 2014-15.

Technically market is under fresh selling as market has witnessed gain in open interest by 0.47% to settled at 14850 while prices down -156 rupee, now Turmeric is getting support at 6881 and below same could see a test of 6765 level, And resistance is now likely to be seen at 7177, a move above could see prices testing 7357. For more Information Visit Us:- ripplesadvisory.com/free-trial.php and miss call -9827808090.          

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Turmeric trading range for the day is 6764-7356.              

Turmeric prices dropped on account of fall in physical and export demand at the spot market.

Though, some losses were capped on reports of lower output due to wet weather in turmeric growing areas. 

NCDEX accredited warehouses turmeric stocks dropped by 20 tonnes to 7404 tonnes.