Turmeric futures fall 1.19% on subdued demand

Turmeric prices fell by 1.19 per cent to Rs 5,624 per quintal in futures market today largely due to sluggish spot demand.

Written by Agencies | New Delhi | Published:September 20, 2012 4:19 pm

Turmeric prices fell by 1.19 per cent to Rs 5,624 per quintal in futures market today largely due to sluggish spot demand amid hopes of better showing following fresh rains in producing regions.

At the National Commodity and Derivatives Exchange,turmeric for delivery in October fell by Rs 68,or 1.19 per cent,to Rs 5,624 per quintal,with an open interest of 16,825 lots.

Similarly,the spice for delivery November traded lower by Rs 60,or 1.05 per cent,to Rs 5,654 per quintal in 5,020 lots.

Marketmen attributed persistent fall in turmeric futures to weak demand in spot markets amid expectations that recent rains in producing regions would improve prospects of sowing,and put pressure towards lower turmeric futures prices.

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