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NEW DELHI: Turmeric futures on Wednesday continued its downward trend and slipped to the lower level of 2 per cent both on NCDEX and MCX counters following weak spot prices amid sluggish demand from domestic and global buyers. At 1100 hrs on NCDEX, the most-active August contract fell by 2 per cent to Rs 4,128 a quintal, while October contract declined 1.38 per cent to Rs 4,292 per cent.

On MCX, August delivery of turmeric slipped 2 per cent to Rs 4,450 a quintal. Poor demand at Nizamabad, Andhra Pradesh, pulled down spot prices by Rs 86 to Rs 4,431 a quintal.

In the current year, turmeric prices tested the historical high of Rs 5,300 a quintal levels on higher export demand and lower production estimates. The inventory level of turmeric is around 1.2 lakh tonnes across the country. - PTI

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