 "Turmeric down 1% on subdued demand, higher supply")
Turmeric prices fell by 1.04% to Rs 6,280 per quintal in futures trade today as speculators reduced positions amidst sluggish demand in spot market, against adequate supplies from producing belts.
At the National Commodity and Derivatives Exchange, turmeric for delivery in July declined by Rs 66, or 1.04%, to Rs 6,280 per quintal with an open interest of 2,710 lots.
In a similar fashion, the spice for delivery in June traded lower by Rs 52, or 0.84%, to Rs 6,136 per quintal in 13,380 lots.
Analysts said offloading of positions by speculators, driven by subdued demand in the spot market against adequate stocks position, mainly kept pressure on turmeric prices in futures trade.
At the National Commodity and Derivatives Exchange, turmeric for delivery in July declined by Rs 66, or 1.04%, to Rs 6,280 per quintal with an open interest of 2,710 lots.
In a similar fashion, the spice for delivery in June traded lower by Rs 52, or 0.84%, to Rs 6,136 per quintal in 13,380 lots.
Analysts said offloading of positions by speculators, driven by subdued demand in the spot market against adequate stocks position, mainly kept pressure on turmeric prices in futures trade.
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