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Turmeric futures weaken 0.96 pc on low demand

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Press Trust of India New Delhi
Last Updated : Aug 28 2017 | 7:28 PM IST
Turmeric prices drifted lower by 0.96 per cent to close at Rs 7,424 per quintal in futures market today as participants cut down bets on fall in demand from upcountry and industrial buyers at the spot market.
At the National Commodity and Derivatives Exchange, turmeric for delivery in October declined Rs 72, or 0.96 per cent, to Rs 7,424 per quintal with an open interest of 2,990 lots.
Similarly, the contract for September delivery was trading at Rs 7,350, down 0.94 per cent, or Rs 70, with an open interest of 12,655 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.

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First Published: Aug 28 2017 | 7:28 PM IST

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