Turmeric futures slip 1.69% on fall in demand

Turmeric prices were down 1.69 per cent to Rs 6,630 per quintal in futures trade today as participants reduced their exposure due to easing domestic and export demand amid expectations of higher output.
On anticipation of better supplies of new turmeric crops from the producing belts also put pressure turmeric prices in futures trade.
At the National Commodity and Derivatives Exchange, turmeric for delivery in May fell by Rs 114, or 1.69 per cent, to Rs 6,626 per quintal with an open interest of 1,665 lots.
Similarly, the spice for delivery in April contracts traded lower by Rs 68, or 1.02 per cent, to Rs 6,630 per quintal in an open interest of 13,800 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.