Turmeric futures down 1.54% on ample stocks

Turmeric prices were down 1.54 per cent to Rs 7,054 per quintal in futures trade today after speculators trimmed positions amid adequate stocks position.
At the National Commodity and Derivatives Exchange, turmeric for delivery in August declined by Rs 110, or 1.54 per cent to Rs 7,054 per quintal with an open interest of 18,490 lots.
Likewise, the spice for delivery in September contracts moved down by Rs 74, or 1.02 per cent to Rs 7,216 per quintal in 10,350 lots.
Market analysts attributed the fall in turmeric futures to low demand at the spot market against adequate stocks position.