Turmeric futures hit lower circuit, plunge 4% at close

Turmeric prices plunged 4 per cent to hit lower circuit at Rs 9,424 per quintal at close in futures trade today as speculators reduced exposure, tracking a weak trend at the spot markets, weighed down by muted demand.
Arrivals of quality turmeric from growing regions too kept pressure on prices.
At the National Commodity and Derivatives Exchange, turmeric for delivery in December month fell Rs 392, or 4 per cent, to hit lower circuit at Rs 9,424 per quintal with an open interest of 22,065 lots.
Similarly, the spice for delivery in far-month April contracts ended down by Rs 420, or 4 per cent, and hit lower circuit at Rs 10,096 per quintal in 13,095 lots.

Analysts said offloading of positions by speculators on falling demand in the spot market against adequate stocks dragged down turmeric prices to hit lower circuit at futures trade here.