MUMBAI (Commodity Online): The expected higher production in the current kharif season continued to the hurt the Turmeric futures. Turmeric futures traded down on the NCDEX counter on Thursday.

NCDEX Turmeric for the September delivery dipped further by 1.69 percent to the session low of Rs 12350 per 100 kg and the open interest in the contract dipped 0.47 percent to 7,500 tonnes.

The arrivals and offtakes are lower in the major trading centers. The next crop would reach in the market only by March and current stock levels are lower. Stockiest buying is lower as they are expecting some more fall in the prices.

Turmeric yesterday we have seen that market has moved -3.99% on sluggish demand from overseas and prospects of higher crop due to increase in acreage as farmers got better price last year

Activities are sluggish in spot as traders are expecting bumper crop which may pull the prices down. Market has opened at 13080 & made a low of 12562 versus the day high of 13132.

The total volume for the day was at 5110 lots and the open interest was at 7530.Support for Turmeric is at 12372 below that could see a test of 12182. Resistance is now seen at 12942 above that could see a resistance of 13322.

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