Turmeric futures decline on weak demand

NEW DELHI: Turmeric prices declined by Rs 48 to Rs 5446 per quintal in futures trade today due to weak domestic as well as export demand against adequate stocks position.

At the National Commodity and Derivatives Exchange, turmeric for delivery in November declined by Rs 48, or 0.87 per cent, to Rs 5446 per quintal, with an open interest of 14,375 lots.

Likewise, the spice for delivery for October shed Rs 32, or 0.59 per cent, to Rs 5,400 per quintal in 2,025 lots.

Analysts said weak domestic and export demand, adequate stocks position mainly kept pressure on turmeric prices at futures trade.