Turmeric futures remain weak, shed 1.44 pc on ample stocks

Turmeric prices eased further by 1.44 per cent to Rs 7,274 per quintal in futures trade today as participants engaged in trimming positions, triggered by sufficient stocks position on increased supplies from producing belts at the spot market.
At the National Commodity and Derivatives Exchange, turmeric for delivery in May drifted down by Rs 106, or 1.44 per cent, to Rs 7,274 per quintal with an open interest of 875 lots.
In a similar fashion, the spice for delivery in April was trading lower by Rs 62, or 0.85 per cent, to Rs 7,194 per quintal in 10,585 lots.
Market analysts said offloading of positions by traders, triggered by adequate stock positions on increased arrivals from producing regions in the physical market against muted demand, kept turmeric prices down at futures trade.