Turmeric on NCDEX settled up by 0.13% at 7648 on short covering tracking firmness in spot demand after prices dropped on prospects of good monsoon. Turmeric yield and output is expected to improve in 2017-18 on account of 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 7570-7730.

* Turmeric prices gained on short covering tracking firmness in spot demand after prices dropped on prospects of good monsoon.

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

* NCDEX accredited warehouses turmeric stocks dropped by 408 tonnes to 4203 tonnes.

* In Nizamabad, a major spot market in AP, the price ended at 7722.2 Rupees dropped -21.9 Rupees.

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