Turmeric on NCDEX settled down by -1.04% at 7638 tracking weakness in spot demand on prospects of good monsoon. Prices of turmeric were down as turmeric yield and 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.

Trading Ideas:

* Turmeric trading range for the day is 7492-7852.

* Turmeric prices dropped tracking weakness in spot demand on prospects of good monsoon.

* Turmeric yield and output is expected to improve in 2017-18 on good monsoon in the Southern India.

* NCDEX accredited warehouses turmeric stocks dropped by 280 tonnes to 4611 tonnes.

* In Nizamabad, a major spot market in AP, the price ended at 7744.1 Rupees dropped -17 Rupees.

For More Enquiry In Trading Tips>> Click Here>> Nifty Future Tips.