Turmeric falls 1.93% on adequate stocks, low demand

The spice for delivery in July traded lower by 1.91%

Turmeric prices were down by 1.93% to Rs 7,634 per quintal in futures trade today as speculators reduced positions amid low demand in the spot market against adequate stocks position.

In futures trading at the National Commodity and Derivatives Exchange, turmeric for delivery in June declined by Rs 150, or 1.93% to Rs 7,634 per quintal with an open interest of 16,410 lots.

Similarly, the spice for delivery in July traded lower by Rs 152, or 1.91% to Rs 7,792 per quintal in 20,525 per quintal in 20,525 lots.

Market analysts attributed the fall in turmeric futures to subdued demand in the spot market against adequate stocks position.