Turmeric futures fall 1.80% on sluggish demand

NEW DELHI: Turmeric prices fell by 1.80 per cent to Rs 6,220 per quintal in futures market today as speculators trimmed positions, tracking sluggish demand in spot market.

At the National Commodity and Derivatives Exchange, turmeric for delivery in April fell by Rs 114, or 1.80 per cent to Rs 6,220 per quintal with an open interest of 14,295 lots.

Similarly, the spice for delivery in May lost Rs 100, or 1.56 per cent to Rs 6,310 per quintal in 7165 lots.

Analysts said offloading of positions by speculators, triggered by sluggish demand in the spot market, contributed to fall in turmeric prices at futures trade.