Turmeric futures slip 0.82% on weak spot demand

Turmeric prices were down 0.82 per cent at Rs 6,742 per quintal in futures trade today as participants reduced their exposure due to easing domestic and export demand at the spot market.
Moreover, higher supplies from the producing regions too fuelled the downtrend.
At the National Commodity and Derivatives Exchange, turmeric for delivery in April fell by Rs 56, or 0.82 per cent, to Rs 6,742 per quintal with an open interest of 13,550 lots.
Similarly, the spice for delivery in May contracts traded lower by Rs 40, or 0.59 per cent, to Rs 6,756 per quintal in an open interest of 2,345 lots.

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