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This is an archive article published on October 30, 2012

Turmeric futures down on weak overseas demand

Turmeric prices softened by Rs 34 to Rs 5,104 per quintal in futures trade.

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Turmeric prices softened by Rs 34 to Rs 5,104 per quintal in futures trade today as speculators trimmed positions,triggered by weak overseas demand.

Adequate stocks positions in the physical market also put pressure on turmeric.

At the National Commodity and Derivatives Exchange,turmeric for delivery in November declined by Rs 34,or 0.66 per cent,to Rs 5,104 per quintal,with an open interest of 12,505 lots.

Likewise,the spice for delivery in December lost Rs 22,or 0.43 per cent,to Rs 5,038 per quintal,with an open interest of 10,945 lots.

Marketmen said weak overseas demand against adequate supplies in the spot market mainly influenced turmeric prices at futures trade.

 

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