Turmeric falls on estimates of a bumper crop

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Turmeric prices fell by Rs 46 to Rs 4,650 per quintal in futures trade today on rising supplies and estimates of a bumper crop.

Subdued demand in the spot market also weakened the trading sentiment.

At the National Commodity and Derivatives Exchange, the May contract for turmeric fell by Rs 46, or 0.98%, to Rs 4,650 per quintal, with an open interest of 8,310 lots.

The April contract lost Rs 38, or 0.81%, to Rs 4,660 per quintal, with an open interest of 18,035 lots.

Analysts said besides rising supplies in the physical market, estimates of bumper crop this season mainly kept pressure on the turmeric prices at futures trade.

Source: http://business-standard.com/india/news/turmeric-fallsestimatesa-bumper-crop/159048/on

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