Turmeric Trading Range For The Day Is 6254-6654

Turmeric on NCDEX settled down -1.9% at 6408 due to higher arrivals and lower demand. The demand for the new season turmeric in recent weeks is lower. In coming days, arrivals are expected to increase which could put pressure over prices. Prices may decline due to pressure of arrivals but improved domestic and export demand for the new turmeric may support prices. New crop arrivals have started in all the major producing centres of Andhra Pradesh, Telangana, Maharashtra, Odisha. Production in the ongoing season is expected to increase mainly on higher sowing area and favourable weather conditions in Maharashtra, Telangana and Andhra Pradesh etc. The turmeric arrivals in the country are higher at 81,876 tonnes during Mar 1-15 compared to 12,825 tonnes during previous month, as per the Agmarknet data.

Trading Ideas:

* Turmeric trading range for the day is 6254-6654.

* Turmeric prices ended with losses due to higher arrivals and lower demand.

* NCDEX accredited warehouses turmeric stocks gained by 79 tonnes to 617 tonnes.

* In Nizamabad, a major spot market in AP, the price ended at 6381.25 Rupees dropped -72.1 Rupees.

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