Turmeric down 1.78% on subdued demand

Adequate stocks influence prices

Turmeric prices were down by 1.78% to Rs 5400 per quintal in futures trade today as speculators offloaded their positions on the back of subdued overseas demand.

Adequate stocks availability in the physical market put pressure on turmeric.

At the National Commodity and Derivatives Exchange, turmeric for delivery in October fell by Rs 98, or 1.78%, to Rs 5,400 per quintal, with an open interest of 2,605 lots.

November turmeric traded lower by Rs 86, or 1.55%, to Rs 5,470 per quintal in 13,940 lots.

Analysts said adequate supplies in the spot market against subdued overseas demand pulled down turmeric prices at futures trade.