Turmeric futures slide 2.62% on low demand

Turmeric prices drifted 2.62 per cent lower to Rs 7,358 per quintal in futures market today as participants offloaded bets, tracking a weak trend in the physical markets.

Further, ample stock positions against increased arrivals from producing regions also contributed to the fall in rates.

At the National Commodity and Derivatives Exchange, turmeric for delivery in May declined Rs 198, or 2.62 per cent, to Rs 7,358 per quintal with an open interest of 540 lots.

Similarly, the spice for delivery in April lost Rs 100, or 1.36 per cent, to Rs 7,230 per quintal in 10,755 lots.

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

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

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