Turmeric drops on subdued demand

Turmeric yesterday we have seen that market has moved -0.82% weighed by mounting arrivals and subdued local demand.
Arrival pressure is very high in turmeric and likely to continue till the last week of April. Supplies from the new season crop have been rising continuously in the spot market after farmers expanded area, lured by higher prices last season.
In Erode, arrivals have risen to 20,000-25,000 bags of 70 kg each against 10,000-15,000 bags at the start of the month. In Nizamabad, a major spot market in AP, the price ended at 10230 rupees dropped by -133.35 rupees.
Market has opened at 9810 & made a low of 9584 versus the day high of 9850. The total volume for the day was at 2570 lots and the open interest was at 7080.
Support for turmeric is at 9565 below that could see a test of 9441. Resistance is now seen at 9831 above that could see a resistance of 9973.
Trading Ideas:
Turmeric trading range is 9441-9973.
Turmeric ended weak weighed by mounting arrivals and subdued local demand
Turmeric is having resistance at 9830 and support at 9565 level.
In Erode arrivals have risen to 20,000-25,000 bags against 10,000-15,000 bags at the start of the month.
In Nizamabad, a major spot market in AP, the price ended at 10230 rupees dropped by -133.35 rupees.

(Source: http://www.commodityonline.com/futures-trading/tradingtips/Turmeric-drops-on-subdued-demand-12240.html)