Turmeric prices drifted lower by 2.68 per cent to Rs 7,274 per quintal in futures market today as participants offloaded holdings amid weak domestic as well as export demand. Furthermore, increased arrivals from major growing regions weighed on turmeric futures. In futures trading at the National Commodity and Derivatives Exchange, turmeric for delivery in the current month declined Rs 200, or 2.68 per cent, to Rs 7,274 per quintal with an open interest of 3,035 lots. Similarly, the spice for delivery in April lost Rs 114, or 1.53 per cent, to Rs 7,324 per quintal in 6,940 lots. Market analysts said offloading of positions by traders, triggered by a fall in demand at the domestic spot markets against adequate stocks position on increased supplies, mainly kept pressure on turmeric prices in futures trade.
Turmeric futures slide 2.68 pc on low demand
Press Trust of India |