Turmeric down 1% on subdued export demand

Adequate supplies amid mounting stocks influence prices

Turmeric prices fell sharply by 1.04% to Rs 4,972 per quintal in futures trade today as speculators offloaded their positions due to subdued overseas demand.

Adequate supplies amid mounting stocks put pressure on turmeric.

At the National Commodity and Derivatives Exchange, turmeric for delivery in December traded Rs 52, or 1.04%, lower at Rs 4,972 per quintal, with an open interest of 8,400 lots.

November turmeric was down by Rs 34, or 0.68%, to Rs 4,990 per quintal in 15,795 lots.

Marketmen said adequate supplies in the spot market following mounting stocks and weak overseas demand pulled down turmeric prices at futures trade.