 "Turmeric down 1.7% on weak demand")
Turmeric prices dropped by 1.70% to Rs 6,256 per quintal in futures trading today as speculators trimmed positions, tracking a weak trend at spot market on sluggish demand in spot market.
Higher arrivals in the physical markets from producing regions also put pressure on turmeric prices.
At the National Commodity and Derivatives Exchange, turmeric for delivery in April declined by Rs 108, or 1.70% to Rs 6,256 per quintal with an open interest of 8720 lots.
Analysts said offloading of positions by speculators, driven by sluggish demand in the spot market against rising arrivals from producing belts mainly kept pressure on turmeric prices at futures trade.
Higher arrivals in the physical markets from producing regions also put pressure on turmeric prices.
At the National Commodity and Derivatives Exchange, turmeric for delivery in April declined by Rs 108, or 1.70% to Rs 6,256 per quintal with an open interest of 8720 lots.
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Similarly, the spice for delivery in May contract traded lower by Rs 104, or 1.63% to Rs 6288 per quintal in 9580 lots.
Analysts said offloading of positions by speculators, driven by sluggish demand in the spot market against rising arrivals from producing belts mainly kept pressure on turmeric prices at futures trade.