Turmeric falls by 1.2% on low demand

Turmeric prices moved down by 1.15% to Rs 9,140 per quintal in futures trade today as speculators reduced exposure, tracking a weak trend at the spot markets due to muted demand.

At the National Commodity and Derivatives Exchange, turmeric for delivery in November month fell Rs 106, or 1.15% to Rs 9,140 per quintal with an open interest of 4,585 lots.

Similarly, the spice for delivery in December contracts moved down by Rs 86, or 0.90% to Rs 9,426 per quintal in 21,335 lots.

Analysts said offloading of positions by speculators on easing demand in the spot market against adequate stocks position, mainly led to decline in turmeric prices at futures trade.