Turmeric on NCDEX settled up by 2.29% at 6892 on short covering tracking firmness in spot demand after prices remained under pressure on low demand and improving supplies. The demand for exports has also improved as new season good quality crop have hit the physical market. On the export front, country exported about 74,524 tonnes; up by 32% during April- Nov period compared to last year exports of 56,471 tonnes, as per government data. The turmeric arrivals in the country increase 22% last week (13-17 Feb) compared to previous week. 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. According to trade sources turmeric output is expected to be around 7.5-8 million bags. India's Apr-Sept turmeric export stood at 59,000 ton up 47% on year, according to Spices Board data. As many as 3,800 bags arrived for sale on of this 1,200 bags are new Mysore Eight Variety turmeric. At the Erode Turmeric Merchants Association Sales yard the finger turmeric sold at Rs. 5,233 to Rs. 8,668 a quintal, root variety sold at Rs. 5,122 to Rs. 7,409 a quintal. At the Regulated Marketing Committee the finger turmeric sold at Rs. 6,889 to Rs. 8,464 a quintal, root variety sold at Rs. 6,883 to Rs. 7,699 a quintal. In Nizamabad, a major spot market in AP, the price ended at 6981.25 Rupees dropped -168.75 Rupees. Technically now Turmeric is getting support at 6738 and below same could see a test of 6582 level, And resistance is now likely to be seen at 7024, a move above could see prices testing 7154.

Trading Ideas:

# Turmeric trading range for the day is 6582-7154.

# Turmeric gains on short covering tracking firmness in spot demand after prices remained under pressure on low demand and improving supplies.

# The demand for exports has also improved as new season good quality crop have hit the physical market.

# The turmeric arrivals in the country increase 22% last week (13-17 Feb) compared to previous week.

# In Nizamabad, a major spot market in AP, the price ended at 6981.25 Rupees dropped -168.75 Rupees.