Turmeric futures soften by 0.62% on adequate stocks

Turmeric prices traded lower by 0.62 per cent to Rs 7,660 per quintal in futures trading today as participants trimmed their positions amid sufficient stocks on increased arrivals from growing regions at the spot market.
At the National Commodity and Derivatives Exchange, turmeric for delivery in December declined by Rs 48, or 0.62 per cent to Rs 7,660 per quintal with an open interest of 4,050 lots.
Likewise, the spice for delivery in April was trading lower by Rs 24, or 0.31 per cent to Rs 7,650 per quintal in 5,420 lots.
Market analysts said cutting down of positions by traders, triggered by ample stocks position on increased supplies from producing belts in the physical market, mainly influenced turmeric prices at futures trade.