Turmeric weakens 0.74% on subdued export demand

November contract falls 0.11%

Turmeric prices weakened by Rs 42 to Rs 5615 per in futures market today as speculators reduced their positions on the back of subdued export demand.

At the National Commodity and Derivatives Exchange, turmeric for delivery in October declined by Rs 42, or 0.74%, to Rs 5,615 per quintal, with an open interest of 14,325 lots.

November turmeric shed Rs 6, or 0.11%, to Rs 5,600 per quintal in 7,265 lots.

Market analysts said speculators reduced positions on the back of subdued export demand, influencing turmeric futures prices.