Turmeric prices slip 1.95% on low demand

Turmeric prices drifted lower by 1.95 per cent to close at Rs 7,328 per quintal in futures market today on fall in demand from upcountry and industrial buyers at the spot market.
Further, adequate stock position on increased supplies from the producing belts too fuelled the downtrend.
At the National Commodity and Derivatives Exchange, turmeric for delivery in October declined Rs 146, or 1.95 per cent, to close at Rs 7,328 per quintal, with an open interest of 1,335 lots.
Similarly, the spice for delivery in September lost Rs 106, or 1.44 per cent, to end at Rs 7,248 per quintal in 14,210 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.