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Turmeric futures slip on low demand

Press Trust of India  |  New Delhi 

Turmeric prices drifted lower by

1.26 per cent to Rs 7,358 per quintal in futures market today on account of easing demand from retailers and industrial buyers at the spot market.

Further, ample stocks position following higher supplies from the producing belts too fuelled the downtrend.

At the National Commodity and Derivatives Exchange, turmeric for delivery in July declined by Rs 94, or 1.26 per cent, to Rs 7,358 per quintal, with an open interest of 6,005 lots.

Similarly, the spice for delivery in June contract lost Rs 84, or 1.14 per cent, to Rs 7,284 per quintal in 15,535 lots.

Market analysts said offloading of positions by traders, triggered by fall in demand at the domestic spot markets against adequate stock position on increased supplies, mainly kept pressure on turmeric prices in futures trade.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, May 17 2018. 11:45 IST