Turmeric trading range for the day is 7972-8296

Turmeric settled up by 0.95% at 8110 due to good demand from stockiest and upcountry exporters to meet the winter season and festive demand.
However, some gains were limited by higher production due to good rains in second part of September in southern peninsula region.
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.
At Erode market arrivals were reported at 6000 quintals, lower by 2000 quintals from previous day’s arrivals.
Trading Ideas:
Turmeric trading range for the day is 7972-8296.
Turmeric prices gains due to good demand from stockiest and upcountry exporters to meet the winter season and festive demand.

However, some gains were limited by higher production due to good rains in second part of September in southern peninsula region.
NCDEX accredited warehouses turmeric stocks dropped by 50 tonnes to 10421 tonnes.
In Nizamabad, a major spot market in AP, the price ended at 8030.4 rupees remains unchanged at0 rupees.


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