Turmeric futures decline on supply pressure

Turmeric prices fell over by three per cent to Rs 9,522 per quintal in futures trade today amid increased arrivals from new season crop in the market.

Analysts said trading sentiments turned weak on adequate stocks in the market following arrivals of new season crop in the market.

At the National Commodity and Derivatives Exchange, turmeric for delivery in April fell sharply by Rs 312, or 3.17%, to Rs 9,522 per quintal, with an open interest of 3,135 lots.

Similarly, the spice for delivery in May lost Rs 242, or 2.70%, to Rs 8,724 per quintal, with a business turnover of 12,355 lots.

(Source: http://www.business-standard.com/india/news/turmeric-futures-declinesupply-pressure/132421/&tp=on)