Although sowing has started in some parts of Maharashtra, the actual pattern would emerge by the end of July. The near-month contract of turmeric opened weak last week and slipped thereafter, but remained in the range of Rs 3,900-4,050 a quintal. "The futures moved in a choppy range as the demand was low. However, fundamentals suggest firmness," said a Mumbai-based spices analyst.
Turmeric has a near-term resistance at Rs 4,058 a quintal. If it crosses this limit, there can be a further rise. On the National Commodity and Derivatives Exchange, the June turmeric contract ended at Rs 3,968 a quintal on Saturday against the previous week's close of Rs 4,074, down 2.6 per cent.
The first resistance is Rs 4,125 and the next level is Rs 4,213 a quintal. There is good support at Rs 3,897 and Rs 3,819 on the downside.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app