Turmeric falls 0.5% on supply pressure

Turmeric prices declined by 0.48% to Rs 5,806 per quintal in futures trade today as speculators trimmed their positions, triggered by increased supplies from the new season crop in the spot markets

Besides, subdued export demand also weighed on the turmeric prices.

At the National Commodity and Derivatives Exchange (NCDEX), the June contract fell Rs 28, or 0.48%, to Rs 5,806 per quintal in 24,830 lots.

Similarly, the spice for delivery in far-month July traded Rs 22, or 0.37% lower at Rs 5,910 per quintal, with an open interest of 8,370 lots.

Market analysts said adequate stocks in the spot markets, following increased supplies from the new season crop and slackened export demand, mainly kept pressure on the turmeric prices at futures trade.