Turmeric futures slide 1.86 pc on adequate supply

Turmeric prices dipped by 1.86 per cent to Rs 5,380 per quintal in futures market today as participants' reduced exposure amid sufficient stocks at the spot markets following pick-up in arrivals from producing belts.
At the National Commodity and Derivatives Exchange, turmeric for delivery in June declined Rs 102, or 1.86 per cent, to Rs 5,380 per quintal with an open interest of 16,200 lots.
Similarly, the spice for delivery in July contracts lost Rs 98, or 1.76 per cent, to Rs 5,456 per quintal in 4,745 lots.
Market analysts said trimming of positions by traders, driven by ample stocks position on increased supplies from producing regions in the physical market, mainly weighed on turmeric prices at futures trade.