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Turmeric prices moved down by 1.96% to Rs 7,186 per quintal in futures trade today as speculators booked profits at prevailing higher levels, driven by a decline in demand in the spot market against adequate stocks position.
At the National Commodity and Derivatives Exchange, turmeric for delivery in May moved down by Rs 144, or 1.96%, to Rs 7,186 per quintal with an open interest of 5,035 lots.
Similarly, the spice for delivery in April lost Rs 142, or 1.95%, to Rs 7,144 per quintal in 17,240 lots.
Analysts said besides profit-booking by speculators at prevailing higher levels, decline in demand in the spot market, mainly led the fall in turmeric prices at futures trade.
