 "Turmeric down 5% on muted demand")
Turmeric prices were down 5.17% to Rs 8,224 per quintal in futures trade today on subdued demand in the spot market against adequate stocks position.
At the National Commodity and Derivatives Exchange, turmeric for delivery in April month declined by Rs 448, or 5.17% to Rs 8,224 per quintal with an open interest of 20,620 lots.
Similarly, the spice for delivery in May contracts traded lower by Rs 412, or 4.72% to Rs 8,320 per quintal in 4,740 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 the turmeric prices at the futures trade.
At the National Commodity and Derivatives Exchange, turmeric for delivery in April month declined by Rs 448, or 5.17% to Rs 8,224 per quintal with an open interest of 20,620 lots.
Similarly, the spice for delivery in May contracts traded lower by Rs 412, or 4.72% to Rs 8,320 per quintal in 4,740 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 the turmeric prices at the futures trade.