MUMBAI (Commodity Online): Turmeric futures recovered from the early losses on Tuesday as traders indulged in buying the yellow metals at the lower rates.

NCDEX turmeric futures April delivery moved higher nearly two percent to Rs 6923 and the counter now quoted at the session high. The session low was Rs 6827 per 100 kg. The open interest in the contract added 4.82 percent to 24,120 tonnes, indicating fresh buying. Volume traded as of now stood at 4,530 tonnes.

Technically, the support for tmc is at 6727 below that could see a test of 6658. Resistance is now seen at 6877 above that could see a resistance of 6958.

Turmeric as per expectation edged lower as rising arrivals, yesterday we have seen that market has moved -0.19% on the hopes of higher output and weak exports may hurt sentiment.

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Turmeric exports in December remained flat at 3,250 tonnes from 3,350 tonnes a year ago, the Spices Board said. In Nizamabad, a major spot market in Andhra Pradesh, the price dropped 194 rupees to 9,955 rupees. Turmeric arrivals usually start in mid-January in small quantities. It gains momentum from March and continues through June.

Market has opened at 6815 & made a low of 6740 versus the day high of 6890. The total volume for the day was at 9430 lots and the open interest was at 23150.

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