Turmeric settled up 1.09% at 6320 on a pick-up in local and export demand while concerns about the quality of the crop in top producer Andhra Pradesh also aided sentiment. Large carry-forward stocks and weak overseas demand are keeping turmeric prices under pressure. Turmeric cultivation usually begins in the last week of May and continues until August. A lengthy harvesting process starts from January. Traders and exporters received a few orders; so they procured turmeric quoting higher price for the medium and high quality varieties. Prices of hybrid varieties increased by Rs 100 a quintal on arrival of medium quality. But other varieties improved by Rs 200 . Current prices will rule for another couple of days and may fall thereafter, as upcountry orders are decreasing. Despite a slight increase in price, sales did not improve and of the 3,300 bags that arrived, only 45 per cent was sold. Sources said that they prefer only quality turmeric as from January-end the new crop will arrive for sale. Similarly, they will receive fresh demand only by January-end from North India. Now, they prefer to store quality turmeric and want to purchase quality root variety that will be sent to Delhi in mid-January. Technically market is under fresh buying as market has witnessed gain in open interest by 2.5% to settled at 12900 while prices up 68 rupee, now Turmeric is getting support at 6266 and below same could see a test of 6212 level, And resistance is now likely to be seen at 6376, a move above could see prices testing 6432.

Trading Ideas:

Turmeric trading range for the day is 6213-6433.

Turmeric rose on a pick-up in local and export demand while concerns about the quality of the crop in Andhra Pradesh also aided sentiment.

Prices of hybrid varieties increased by Rs 100 a quintal on arrival of medium quality.

NCDEX accredited warehouses turmeric stocks dropped by 336 tonnes to 347 tonnes.

In Nizamabad, a major spot market in AP, the price ended at 5404.15 rupees dropped -83.85 rupees.