Turmeric extends fall, sheds 1.55%

Weak domestic demand, higher arrivals from growing areas drive futures prices down

Turmeric showed weakness for the third day as prices fell by another 1.55 per cent to Rs 6,106 per quintal in futures trade today on weak domestic as well as export demand against adequate supplies from producing belts.

At the National Commodity and Derivatives Exchange, turmeric for delivery in July fell further by Rs 96, or 1.55 per cent, to Rs 6,106 per quintal with an open interest of 3,180 lots.

Similarly, the spice for delivery in June lost Rs 86, or 1.42 per cent, to Rs 5,970 per quintal in 13,305 lots.

Analysts said offloading of positions by speculators on weak domestic and export demand in the spot market against adequate supplies from producing regions led to fall in turmeric prices in futures trade.