Turmeric futures down 1.39% on ample stocks

Turmeric prices declined by 1.39 per cent to Rs 7,250 per quintal in futures trade today as participants reduced exposure, triggered by sufficient stocks position on increased supplies from producing belts in the spot market.
At the National Commodity and Derivatives Exchange, turmeric for delivery in April month fell by Rs 102, or 1.39 per cent, to Rs 7,250 per quintal with an open interest of 26,420 lots.
On similar lines, the spice for delivery in far-month May shed Rs 82, or 1.11 per cent, to Rs 7,330 per quintal. The open interest of the contract stood at 10,860 lots.

Market analysts said offloading of positions by traders, triggered by adequate stock positions on increased arrivals from producing regions in the physical market against muted demand, weighed on turmeric prices in futures trade.