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Turmeric prices drifted lower by 3.73 per cent to close at Rs 7,490 per quintal in futures market today as participants offloaded their holdings amid weak domestic as well as export demand. Reports of good supplies from the government auctions also weighed on prices. At the National Commodity and Derivatives Exchange, turmeric for delivery in current month declined Rs 290, or 3.73 per cent, to close at Rs 7,490 per quintal with an open interest of 3,245 lots. Similarly, the spice for delivery in January lost Rs 260, or 3.37 per cent, to finish at Rs 7,460 per quintal in 6,180 lots. Market analysts said offloading of positions by traders, triggered by fall in demand at the domestic spot markets against adequate stocks position on increased supplies, mainly kept pressure on turmeric prices in futures trade.
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