Turmeric prices declined by Rs 50 to Rs 7,206 per quintal in futures trading today owing to sluggish local and exports demand against adequate stocks position.
At the National Commodity and Derivatives Exchange, turmeric for delivery in August eased by Rs 50, or 0.69%, to Rs 7,206 per quintal, with an open interest of 4,580 lots.
Similarly, turmeric for delivery in July shed Rs 38, or 0.52%, to Rs 7,222 per quintal, with a business turnover of 8,970 lots. Market analysts said sluggish local and exports demand against adequate stocks position mainly led to a decline in the futures prices.
Expectations of higher output this season also put pressure on turmeric futures prices, they added.
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