Turmeric futures slip 0.64% on low demand

Turmeric prices drifted lower by 0.64 per cent to Rs 7,364 per quintal in futures market today on account of easing demand from retailers and industrial buyers at the spot market.

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 in far-month August declined by Rs 48, or 0.64 per cent, to Rs 7,364 per quintal with an open interest of 12,110 lots.

Similarly, the spice for delivery in July lost Rs 34, or 0.45 per cent, to Rs 7,380 per quintal in 8,895 lots.

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

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)