Turmeric trading range for the day is 7680-8196.

Turmeric settled down by -0.48% at 7930 due to weakness in demand at the spot market. However downside seen limited on poor sowing due to weak rainfall during monsoon period in the producing belts of Andhra Pradesh. Good rains in second part of September in southern peninsula region may enhance the turmeric production and quality. Turmeric sowing area reported high in Maharashtra and Tamil Nadu state during the current sowing period. However, deficient monsoon in August and early September may affect production in rainfed areas. As per dept of commerce data, turmeric exports during April-Jul, 2015 pegged at 32,158 tonnes while the export for the 2014-15 is 90,738 tonnes compared to 78,360 tonnes in FY14. As on 30th Sep 2015, turmeric sowing In AP is recorded at 15,413 hectares increase over last years’ acreage as well normal sowing area progress while in Telangana, only 40,830 hectares of turmeric has been sown which is 82 per cent of normal acreage.
Trading Ideas:
Turmeric trading range for the day is 7680-8196.
Turmeric prices ended with losses due to weakness in demand at the spot market.
However downside seen limited on poor sowing due to weak rainfall during monsoon period in the producing belts of Andhra Pradesh.
NCDEX accredited warehouses turmeric stocks dropped by 29 tonnes to 10530 tonnes.
In Nizamabad, a major spot market in AP, the price ended at 7980.4 rupees gained 10.85 rupees.

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