Turmeric futures remain weak, shed 0.57 pc on subdued demand

Turmeric prices fell further by 0.57 per cent to Rs 7,390 per quintal in futures trade today as speculators engaged in reducing positions amid fall in demand in the spot market.
In addition, adequate stock position on increased supplies from producing regions put pressure on turmeric prices.
At the National Commodity and Derivatives Exchange, turmeric for delivery in July moved down by Rs 42, or 0.57 per cent, to Rs 7,390 per quintal with an open interest of 195 lots.
Likewise, the spice for delivery in August was trading lower by a similar margin to Rs 7,360 per quintal in 14,440 lots.

Analysts said, offloading of positions by participants owing to slackened demand in the physical markets against ample stock position on increased arrivals from producing belts, mainly kept turmeric prices down at futures trade.