Turmeric futures decline 0.56% on subdued demand

NEW DELHI: Turmeric prices declined by Rs 36 to Rs 6,406 per quintal in futures market today owing to subdued demand in the spot market against sufficient supplies.

At the National Commodity and Derivatives Exchange, turmeric for delivery in May declined by Rs 36, or 0.56 per cent to Rs 6,406 per quintal with an open interest of 7,565 lots.

Likewise, the spice for delivery in April contract traded lower by Rs 32, or 0.50 per cent to Rs 6,310 per quintal in 27,860 lots.

Marketmen said subdued demand in the spot market against sufficient supplies mainly kept pressure on turmeric prices at futures trade.