In a large stock pot or dutch oven, add the oil, fennel, chopped beets, and garlic, and heat to medium. Saute, stirring occasionally for 10 minutes. Add the salt, turmeric, and red pepper, and saute for another 2 minutes. Add the water (or broth) and wine and bring to a full boil. Reduce heat, cover, and simmer for 40 to 50 minutes, or until beets are tender.