Turmeric futures decline on muted demand, dip by 1.03%

Turmeric prices fell by 1.03 per cent to Rs 5,368 per quintal in futures trade today as participants reduced their exposure due to easing demand at the domestic spot markets.
Besides, adequate stock position on increased supplies from the producing regions also weighed on the prices.
At the National Commodity and Derivatives Exchange, turmeric for delivery in June fell by Rs 56, or 1.03 per cent, to Rs 5,368 per quintal, with an open interest of 13,180 lots.
Similarly, the spice for delivery in July was trading lower by Rs 44, or 0.80 per cent, to Rs 5,444 per quintal, in an open interest of 5,510 lots.

Market analysts said offloading of positions by traders, triggered by fall in demand at the domestic spot markets against adequate stock position on increased supplies, mainly kept pressure on turmeric prices in futures trade.