You are here: Home » PTI Stories » National » News
Business Standard

Turmeric futures weaken by 1.14 pc on low demand

Press Trust of India  |  New Delhi 

Turmeric prices drifted lower by 1.14 per cent to close at Rs 7,630 per quintal in futures trade today as participants cut down bets on fall in demand from upcountry and industrial buyers at the spot market.

Moreover, good rains in turmeric growing areas in and too fuelled the downtrend.

At the National Commodity and Derivatives Exchange, turmeric for delivery in the October declined by Rs 88, or 1.14 per cent, to close at Rs 7,630 per quintal with an open interest of 11,630 lots.

Similarly, the contract for the current month delivery was trading at Rs 7,652, down 0.83 per cent, or Rs 64, with an open interest of 1,130 lots.

Market analysts said offloading of positions by traders, triggered by fall in demand at the domestic spot markets against adequate stocks 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: Wed, September 13 2017. 18:57 IST