Turmeric on NCDEX settled down by -1.58% at 7354 on profit booking after prices gained due to anticipations of fall in sowing because of weak rains in the producing centres. Turmeric output may fall for the second year in a row. Except Tamil Nadu and Andhra Pradesh, almost all other major turmeric growing states received lower rains. Rainfall deficiency until Aug 17, stood at 17% in Telangana, 26% in Karnataka, 6% in Odisha and 15% in Maharashtra, IMD data showed.

Trading Ideas:

* Turmeric trading range for the day is 7248-7504.

* Turmeric dropped on profit booking after prices gained due to anticipations of fall in sowing because of weak rains in the producing centres.

* As per market estimates, overall output in the next season is expected to be lower than last year due to unsupportive weather conditions.

* NCDEX accredited warehouses turmeric stocks dropped by 118 tonnes to 5511 tonnes.

* In Nizamabad, a major spot market in AP, the price ended at 7555.55 Rupees dropped -10.1 Rupees.

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