Turmeric prices drifted lower by 1.13 per cent to close at Rs 7,530 per quintal in futures market today on fall in demand from upcountry and industrial buyers at the spot market. Though, some losses were capped on expectation of fresh upcountry demand from November. At the National Commodity and Derivatives Exchange, turmeric for delivery in current month declined Rs 86, or 1.13 per cent, to close at Rs 7,530 per quintal with an open interest of 495 lots. Similarly, the spice for delivery in November lost Rs 66, or 0.88 per cent, to end at Rs 7,440 per quintal in 6,425 lots. Market analysts said offloading of positions by traders, triggered by fall in demand at the domestic spot markets against adequate stock position on increased supplies mainly kept pressure on turmeric prices in futures trade.
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