Turmeric futures slide 1.21% on low demand

Turmeric prices were down 1.21 per cent to Rs 8,788 per quintal in futures trade today largely dragged down due to subdued demand in the spot market against adequate stocks position.
At the National Commodity and Derivatives Exchange, turmeric for delivery in April declined by Rs 108, or 1.21 per cent to Rs 8,788 per quintal with an open interest of 23,310 lots.
Similarly, the spice for delivery in far-month May traded lower by Rs 102, or 1.13 per cent to Rs 8,920 per quintal in 6,985 lots.
Market analysts said offloading of positions by traders, triggered by low demand at the spot market against adequate stocks position, mainly kept pressure on turmeric prices at futures trade.

Furthermore, reports of good harvesting at the producing regions so far too put pressure on prices, they said.