Turmeric futures extend fall on low demand

Turmeric prices declined further by 1.37 per cent to Rs 7,162 per quintal in futures trade today as speculators reduced exposure, driven by adequate stocks on increased arrivals from producing regions at spot market against subdued demand.

At the National Commodity and Derivatives Exchange, turmeric for delivery in the current month contract fell by Rs 100, or 1.37 per cent, to Rs 7,162 per quintal with an open interest of 8,190 lots.

Similarly, the spice for delivery in June contract declined by Rs 78, or 1.06 per cent, to Rs 7,250 per quintal in 10,975 lots.

Market analysts said offloading of positions by traders, triggered by sufficient stocks position on increased supplies from producing belts in the physical market against muted demand weighed on turmeric prices at futures trade.