Turmeric on NCDEX settled down by -0.48% at 7462 on expectation of good production of turmeric due to wet weather conditions in Telangana. Though, some losses were capped on rising demand from the institutional buyers at the spot market. The export of turmeric is down by 16.4% to 41,517 tonnes for the first 4 month of FY 2017/18 compared to last years’ exports. For 2017/18, turmeric sowing in Telangana, this season down 1.5% to 44,956 hectares as compared to last year acreage of 45,633 hectares.

Trading Ideas:

* Turmeric trading range for the day is 7396-7532.

* Turmeric prices dropped on expectation of good production of turmeric due to wet weather conditions in Telangana.

* Though, some losses were capped on rising demand from the institutional buyers at the spot market.

* NCDEX accredited warehouses turmeric stocks dropped by 40 tonnes to 3155 tonnes.

* In Nizamabad, a major spot market in AP, the price ended at 7500 Rupees gained 15.6 Rupees.

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