Turmeric falls 1.5% on slow demand

Turmeric prices fell by Rs 62 to Rs 4,044 per quintal in futures trading today, due to sluggish demand at prevailing higher levels.

Reports of higher output this year in growing areas also put pressure on turmeric prices.

At the National Commodity and Derivatives Exchange, turmeric for delivery in July fell by Rs 62, or 1.51%, to Rs 4,044 per quintal, with an open interest of 11,120 lots.

The June contract lost Rs 54, or 1.37%, to Rs 3,880 per quintal in 28,230 lots.

Analysts said sluggish demand at prevailing higher levels against adequate stocks position mainly led to fall in turmeric prices at futures trade.