Turmeric declines 0.87% on weak demand

Adequate stocks influence prices

Turmeric prices declined by Rs 48 to Rs 5446 per quintal in futures trade today due to weak domestic as well as export demand against adequate stocks position.

At the National Commodity and Derivatives Exchange, turmeric for delivery in November declined by Rs 48, or 0.87%, to Rs 5446 per quintal, with an open interest of 14,375 lots.

October turmeric shed Rs 32, or 0.59%, to Rs 5,400 per quintal in 2,025 lots.

Analysts said besides weak domestic and export demand, adequate stocks position kept pressure on turmeric prices at futures trade.