Turmeric futures slip 1.74% on fall in demand

Turmeric prices were down 1.74 per cent to Rs 7,000 per quintal in futures trade today as participants reduced their exposure due to easing domestic and export demand amid expectations of higher output.
At the National Commodity and Derivatives Exchange, turmeric for delivery in December fell by Rs 124, or 1.74 per cent, to Rs 7,000 per quintal, with an open interest of 15 lots.
Similarly, the spice for delivery in April 2017 traded lower by Rs 92, or 0.92 per cent, to Rs 6,728 per quintal, in an open interest of 12,370 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.