Turmeric futures down 1.78 pc on adequate supply

NEW DELHI: Turmeric prices down by 1.78 per cent to Rs 5400 per quintal in futures trade today as speculators offloaded their positions on the back of subdued overseas demand.

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

At the National Commodity and Derivatives Exchange, turmeric for delivery in October fell by Rs 98, or 1.78 per cent, to Rs 5,400 per quintal, with an open interest of 2,605 lots.

Similarly, the spice for delivery in November traded lower by Rs 86, or 1.55 per cent, to Rs 5,470 per quintal in 13,940 lots.

Analysts said adequate supplies in the spot market against subdued overseas demand mainly pulled down turmeric prices at futures trade.