Turmeric futures down 1.67% on fall in demand

Turmeric prices were down 1.67 per cent at Rs 7,280 per quintal in futures trade today on account of easing domestic and export demand at the spot market.
Further, prospects of better crop this season due to increased sowing following favorable weather condition in the producing belts too fuelled the downtrend.
At the National Commodity and Derivatives Exchange, turmeric for delivery in September fell by Rs 124 or 1.67 per cent to Rs 7,280 per quintal with an open interest of 18,715 lots.
Similarly, the spice for delivery in October contracts traded lower by Rs 116 or 1.59 per cent to Rs 7,200 per quintal in 12,295 lots.

Market analysts said offloading of positions by traders, triggered by fall in domestic and export demand at the spot market against adequate stocks position, mainly kept pressure on turmeric prices at futures trade.