Turmeric loses colour on supply pressure

PTI New Delhi | Updated on June 20, 2011

Turmeric prices fell by 0.74 per cent in futures trade today as speculators reduced their positions amid increased arrivals.

Weak export demand also put pressure on turmeric prices in futures trade here.

At the National Commodity and Derivatives Exchange, turmeric for delivery in June fell by Rs 54 or 0.74 per cent to Rs 7,260 per quintal, with an open interest for 2,220 lots.

Similarly, the spice for delivery in July lost Rs 52 or 0.70 per cent to Rs 7,340 per quintal, with a business turnover of 8,385 lots.

Analysts said the trading sentiment turned weak after speculators reduced their positions, prompted by adequate stock availability in the market.

Weak export demand also had a negative impact on turmeric futures prices here.

Published on June 20, 2011

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