Turmeric down 1.2% on adequate supply, low demand

Turmeric prices moved down by 1.26% to Rs 6,730 per quintal in futures trading today after speculators reduced their exposures amid higher supply against low demand in the spot market.

At the National Commodity and Derivatives Exchange, turmeric for delivery in May fell by Rs 86, or 1.26%, to Rs 6,730 per quintal with an open interest of 3,095 lots.

Likewise, the spice for delivery in April traded lower by Rs 82, or 1.22%, to Rs 6,666 per quintal in 14,360 lots.

Analysts attributed the fall in turmeric futures to low demand in the spot market against adequate stocks position.