Turmeric futures slide 0.69% on low demand

Turmeric prices were down 0.69 per cent to Rs 7,472 per quintal in futures trade today largely dragged down by subdued demand in the spot market against adequate stocks position.

At the National Commodity and Derivatives Exchange, turmeric for delivery in September month declined by Rs 52, or 0.69 per cent to Rs 7,472 per quintal with an open interest of 7,395 lots.

Similarly, the spice for delivery in August contracts traded lower by Rs 44, or 0.60 per cent to Rs 7,318 per quintal in 17,425 lots.

Market analysts said offloading of positions by traders, triggered by low demand at the spot market against adequate stocks position, mainly kept pressure on turmeric prices at futures trade.