Turmeric futures fall 0.74 pc on weak demand

Turmeric prices fell by 0.74 percent to Rs 6,672 per quintal in futures market Wednesday on account of easing demand from retailers and industrial buyers at the spot market.

Reports of improved sowing from major growing areas of Tamil Nadu, Karnataka and Maharashtra also influenced the turmeric futures prices.

At the National Commodity and Derivatives Exchange, turmeric for September declined by Rs 50, or 0.74 percent, to Rs 6,672 per quintal with an open interest of 8,485 lots.

Market analysts said off-loading of positions by traders, triggered by fall in domestic as well as an export demand against adequate stocks position mainly exerted pressure on turmeric prices.

Similarly, the spice for October lost Rs 40, or 0.58 percent, to Rs 6,770 per quintal in 8,280 lots.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)