Turmeric futures slide 1.17% on low demand

Turmeric prices drifted 1.17 per cent lower to Rs 7,570 per quintal in futures market today as participants offloaded holdings amid weak domestic as well as export demand.
Further, fresh arrivals from major growing regions also weighed on prices.
At the National Commodity and Derivatives Exchange, turmeric for delivery in May month declined Rs 90, or 1.17 per cent, to Rs 7,570 per quintal with an open interest of 380 lots.
Similarly, the spice for delivery in April lost Rs 70, or 0.92 per cent, to Rs 7,500 per quintal in 10,170 lots.
Market analysts said offloading of positions by traders, triggered by a fall in demand in the domestic spot markets against adequate stocks position on increased supplies, kept pressure on prices.