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Turmeric on NCDEX settled up by 0.41% at 6832 driven by firm trend in the spot markets. However, gains remained capped on expectations of increasing production in coming harvesting season and lowering export demand in recent months. Turmeric acreage in Telangana and Andhra Pradesh was higher this year as compared last year. 

The harvesting is going on in key producing states – Maharashtra, Tamilnadu and Karnataka. On the export front, country exported about 74,524 tonnes, up by 32% during April-Nov period compared last year exports of 56,471 tonnes, as per government data. In Sangli (Maharashtra), new Turmeric crop coming to the market with small quantity around 450 bags (1 bag = 70kgs), for new crop price quoted in a range of Rs.6800 - Rs.8000/qtl depends on quality and variety.  

            Trading Ideas  

• Turmeric trading range for the day is 6764-6904.

• Turmeric prices ended with gains driven by firm trend in the spot markets. 

• As per production estimate, Turmeric production reported higher by around 7.5% during current year.  In Sangli, new Turmeric crop coming to the market with small quantity around 450 bags.

• In Nizamabad, a major spot market in AP, the price ended at 7342.1 Rupees dropped -10.85 Rupees.