Turmeric futures down 0.38%, low demand hurts

Turmeric prices moved down by

0.38 per cent to Rs 6,800 per quintal in futures trade Friday as participants reduced exposure amid easing demand at the domestic spot markets against adequate stock position.

Besides, increased arrivals from major producing belts weighed.

At the National Commodity and Derivatives Exchange, turmeric for delivery in November fell by Rs 26, or 0.38 per cent, to Rs 6,800 per quintal, with an open interest of 11 lots.

In contrast, the October rates were up by Rs 15, or 0.22 per cent, to Rs 6880 per quiontal, having an opening interest of 7,540 lots.

Marketmen said off-loading of positions by traders, driven by fall in demand in the spot market against ample stock position on increased supplies from growing regions, mainly put pressure on turmeric prices in futures trade.