Turmeric futures slip 1.06% after fall in demand

Turmeric prices were down 1.06 per cent to close at Rs 7,300 per quintal in futures trade today as participants reduced their exposure due to easing domestic and export demand amid expectations of higher output.
At the National Commodity and Derivatives Exchange, turmeric for delivery in November fell by Rs 78, or 1.06 per cent, to Rs 7,300 per quintal with an open interest of 9,900 lots.
Similarly, the spice for delivery in December contracts traded lower by Rs 64, or 0.89 per cent, to Rs 7,132 per quintal in an open interest of 9,600 lots.
Market analysts said offloading of positions by traders, triggered by fall in domestic and export demand at the spot market against adequate stock position on increased supplies, mainly kept pressure on turmeric prices in futures trade.