Turmeric futures down 1.40 pc on fall in demand

Turmeric prices slipped 1.40 per cent to Rs 6,904 per quintal in futures trade today on account of easing domestic and export demand at the spot market.
Adequate stocks position on higher supplies from producing regions too fuelled the downtrend.
At the National Commodity and Derivatives Exchange, turmeric for delivery in this month fell by Rs 98 or 1.40 per cent to Rs 6,904 per quintal with an open interest of 6,490 lots.
Similarly, the spice for delivery in November contracts traded lower by Rs 94 or 1.32 per cent to Rs 7,008 per quintal in 10,580 lots.
Market analysts said offloading of positions by traders, triggered by fall in domestic and export demand at the spot market against adequate stocks position, mainly kept pressure on turmeric prices at futures trade.