Turmeric prices slip 1.70 pc on low demand in futures trade

Turmeric prices drifted lower by 1.70 per cent to close at Rs 6,130 per quintal in futures market today on fall in demand from upcountry and industrial buyers at the spot market.
Moreover, reports of higher stock availability on increased supplies from the producing regions too fuelled the downtrend.
At the National Commodity and Derivatives Exchange, turmeric for delivery in July declined Rs 106, or 1.70 per cent, to close at Rs 6,130 per quintal with an open interest of 13,540 lots.
Similarly, the spice for delivery in August lost Rs 82, or 1.30 per cent, to end at Rs 6,226 per quintal in 2,555 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.