Turmeric futures slide 3.17 pc on adequate supply

Turmeric prices moved down by 3.17 per cent to Rs 5,866 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 this month declined Rs 192, or 3.17 per cent, to Rs 5,866 per quintal with an open interest of 16,950 lots.
Similarly, the spice for delivery in June contracts lost Rs 172, or 2.80 per cent, to Rs 5,960 per quintal in 6,630 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.