Turmeric falls 1.47% on adequate supply

Turmeric prices fell due to adequate supplies against subdued demand in the spot market

Turmeric prices fell by 1.47% to Rs 5750 per quintal in futures trading today due to adequate supplies against subdued demand in the spot market.

 

Good progress in sowing due to favourable weather in growing areas also influenced turmeric futures prices.

 

At the National Commodity and Derivatives Exchange, turmeric for delivery in August fell by Rs 86, or 1.47%, to Rs 5,750 per quintal, with an open interest of 23,160 lots.

 

Likewise, the spice for delivery in July traded lower by Rs 76, or 1.32%, to Rs 5,670 per quintal in 4,315 lots.

 

Market analysts attributed the fall in turmeric futures to adequate supplies against subdued demand in the spot market.