Turmeric prices drifted down by 3.73 per cent to Rs 7,380 per quintal in futures market today as speculators trimmed positions, due to muted demand in the spot market against ample stocks.
At the National Commodity and Derivatives Exchange, turmeric for delivery in August fell by Rs 286, or 3.73 per cent, to Rs 7,380 per quintal with an open interest of 15,550 lots.
Similarly, the spice for delivery in July declined by Rs 72, or 0.96 per cent, to Rs 7,396 per quintal in 290 lots.
Market analysts said offloading of positions by traders on the back of easing demand in the physical markets against adequate stock position on increased supplies from producing regions, mainly weighed on turmeric prices at futures trade.
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