Turmeric futures down 3.12 pc on ample stocks

Turmeric prices were down by 3.12 per cent to Rs 7,332 per quintal in futures trade today as speculators trimmed positions, tracking a weak trend at spot markets due to subdued demand and adequate stocks position.
At the National Commodity and Derivatives Exchange, turmeric for delivery in June month fell by Rs 236 or 3.12 per cent to Rs 7,332 per quintal with an open interest of 15,830 lots.
Similarly, the spice for delivery in July contracts traded lower by Rs 238, or 3.08 per cent to Rs 7,480 per quintal in 19,740 lots.
Market analysts attributed fall in turmeric futures to sufficient stocks position against sluggish demand in the spot market.