Turmeric futures slide 0.79 pc on low demand

Turmeric prices drifted lower by 0.79 per cent to trade at Rs 7,576 per quintal in futures market today as participants liquidated their bets tracking a weak trend in demand in the physical markets.
Further, ample stock positions against increased arrivals from producing regions also contributed fall in rates.
In futures trading at the National Commodity and Derivatives Exchange, turmeric for delivery in far-month May declined Rs 60, or 0.79 per cent, to trading at Rs 7,576 per quintal with an open interest of 445 lots.
Similarly, the contract for April was trading at Rs 7,488, down by 0.66 per cent or Rs 50, with trading volume of 10,260 lots.

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