Turmeric futures down 1.7% on increased supply

Traders trim positions on higher arrivals from key producing areas

Turmeric prices fell by 1.66 per cent to Rs 7,122 per quintal in futures trading today as speculators trimmed positions on increased supplies from producing belts against low demand in the spot market.

At the National Commodity and Derivatives Exchange, turmeric for delivery in April fell by Rs 120, or 1.66 per cent, to Rs 7,122 per quintal with an open interest of 16,950 lots.

The May contract lost Rs 116, or 1.59 per cent, to Rs 7,176 per quintal in 4,180 lots.

Analysts attributed the fall in turmeric prices at futures trade to trimmed positions of speculators, triggered by increased supplies from producing regions against low demand in the spot market.