Turmeric futures slip 1.25% on low demand

Turmeric prices drifted lower by

1.25 per cent to Rs 7,131 per quintal in the futures market today on account of easing demand from retailers and industrial buyers at the spot markets.

Further, ample stocks position following higher supplies from the producing belts, too, fuelled the downtrend.

At the National Commodity and Derivatives Exchange, turmeric for delivery this month declined by Rs 90, or 1.25 per cent to Rs 7,131 per quintal with an open interest of 195 lots.

Similarly, the spice for delivery in June lost Rs 74, or 1.01 per cent, to Rs 7,210 per quintal in 18,120 lots.

Market analysts said off-loading of positions by traders, triggered by fall in demand at the domestic spot markets against adequate stocks position on increased supplies, mainly kept pressure on turmeric prices.