 "Turmeric shed 1.7% on weak demand")
Turmeric prices drifted by 1.74% to Rs 5,530 per quintal in futures trading today as speculators reduced their positions amid sluggish demand in the spot market.
However, a decline in supplies due to heavy rains and some export enquiries restricted the fall.
At the National Commodity and Derivatives Exchange, turmeric for delivery in June fell by Rs 98, or 1.74%, to Rs 5,530 per quintal with an open interest of 190 lots.
Market analysts said offloading of positions by speculators against weak demand in the spot market mainly kept pressure on turmeric prices at futures trade.
However, a decline in supplies due to heavy rains and some export enquiries restricted the fall.
At the National Commodity and Derivatives Exchange, turmeric for delivery in June fell by Rs 98, or 1.74%, to Rs 5,530 per quintal with an open interest of 190 lots.
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Similarly, turmeric for delivery in the July contract traded marginally lower by Rs 10, or 0.16%, to Rs 5,590 per quintal in 21,010 lots.
Market analysts said offloading of positions by speculators against weak demand in the spot market mainly kept pressure on turmeric prices at futures trade.
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