Turmeric futures slide 3.98 pc on tepid demand

Turmeric prices went down further by 3.79 per cent to close at Rs 7,144 per quintal in futures market today as participants offloaded their holdings amid weak domestic as well as export demand.
Reports of good supplies from the government auctions and lower exports data also weighed on prices.
At the National Commodity and Derivatives Exchange, turmeric for delivery in the current month declined Rs 296, or 3.98 per cent, to close at Rs 7,144 per quintal with an open interest of 1,100 lots.
Similarly, the spice for delivery in April lost Rs 80, or 1.07 per cent, to finish at Rs 7,392 per quintal in 8,595 lots.

Market analysts said offloading of positions by traders, triggered by fall in demand at the domestic spot markets against adequate stocks position on increased supplies, mainly kept pressure on turmeric prices in futures trade.