Turmeric falls 1.6% on weak overseas demand

Adequate stocks influence prices

Turmeric prices fell by 1.63% to Rs 5,420 per quintal in futures market today due to weak overseas demand against adequate stocks position.

At the National Commodity and Derivatives Exchange, turmeric for delivery in October fell by Rs 90, or 1.63%, to Rs 5,420 per quintal, with an open interest of 6,965 lots.

November turmeric shed Rs 46, or 0.83%, to Rs 5,470 per quintal, with an open interest of 13,375 lots.

Marketmen said weak overseas demand against adequate stocks position kept pressure on turmeric prices at futures trade.