Turmeric sheds 0.6% on subdued demand

Turmeric prices weakened by Rs 26 to Rs 4,104 per quintal in futures trading today owing to slackened demand against adequate stocks availability in the physical market.

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 June declined by Rs 26, or 0.63%, to Rs 4,104 per quintal, with an open interest of 28,125 lots.

The May contract shed Rs 4, or 0.10%, to Rs 3,830 per quintal in 2,820 lots.

Analysts said subdued demand against adequate stocks position mainly led to fall in turmeric prices at futures trade.

They said reports of higher output this season further influenced the sentiment.