Turmeric futures prices tumble 3.07%

Turmeric prices tumbled by Rs 162 to Rs 5,114 per quintal in futures trade today.

Written by Agencies | New Delhi | Published:October 17, 2012 3:51 pm

Turmeric prices tumbled by Rs 162 to Rs 5,114 per quintal in futures trade today as speculators offloaded their positions,driven by sluggish domestic and overseas demand.

Adequate stocks availability in the physical market following increased arrivals from producing belts also put pressure on turmeric.

At the National Commodity and Derivatives Exchange,turmeric for delivery in November fell by Rs 162,or 3.07 per cent to Rs 5114 per quintal in open interest of 15185 lots.

In a similar fashion,the spice for delivery in October declined by Rs 104,or 1.99 per cent,to Rs 512 per quintal in 1,370 lots.

Analysts said adequate supplies in the spot market against subdued domestic and overseas demand mainly influenced turmeric prices at futures trade.

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