Turmeric futures down 0.65 pct

Written by Agencies | New Delhi | Updated: Jan 28 2011, 19:40pm hrs
Continuing its slide, turmeric futures prices fell by another Rs 64 to Rs 9,774 per quintal on Friday, as traders reduced their positions due to increased supplies of fresh crop in the spot market.

Slackened overseas demand on hopes of further dip in the spice prices also weighed on the prices at futures trade here, traders said.

At the National Commodity and Derivatives Exchange, turmeric for delivery in April fell by Rs 64, or 0.65 per cent, to Rs 9,774 per quintal, with an open interest of 6,370 lots.

Similarly, the spice for delivery in June lost Rs 22, or 0.24 per cent, to Rs 9,280 per quintal in 920 lots.

Traders said weak exports demand and adequate stocks following fresh crop's arrival in the spot markets mainly put pressure on the turmeric prices at futures trade here.