Turmeric futures down 3.66% on fall in demand

Turmeric prices were down 3.66 per cent to Rs 7,466 per quintal in futures trade today on account of fall in domestic and export demand at the spot markets.
Further, adequate stocks position on higher supply from producing regions too fuelled the downtrend.
At the National Commodity and Derivatives Exchange, turmeric for delivery in October month plunged by Rs 284, or 3.66 per cent to Rs 7,466 per quintal with an open interest of 10,845 lots.
Similarly, the spice for delivery in September contracts traded lower by Rs 282 or 3.65 per cent to Rs 7,438 per quintal in 25,625 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.