Turmeric futures slip 1.05% on low demand

Turmeric prices were down 1.05 per cent to Rs 5,630 per quintal in futures trade today as participants reduced their exposure due to easing demand at the domestic spot markets.
Besides, reports of higher stocks availability on increased supplies from the producing regions too fuelled the downtrend.
At the National Commodity and Derivatives Exchange, turmeric for delivery in June fell by Rs 60, or 1.05 per cent, to Rs 5,630 per quintal, with an open interest of 15,310 lots.
Similarly, the spice for delivery this month traded lower by Rs 58, or 1.03 per cent, to Rs 5,546 per quintal, in an open interest of 3,560 lots.

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