Turmeric prices were down 1.55 per cent to Rs 6,992 per quintal in futures trade today as participants reduced their exposure due to easing domestic and export demand amid expectations of higher output.
Besides, higher output due to good sowing and favorable weather conditions at the producing belts also put pressure turmeric prices in futures trade.
At the National Commodity and Derivatives Exchange, turmeric for delivery in May fell by Rs 110, or 1.55 per cent, to Rs 6,992 per quintal with an open interest of 1,330 lots.
Similarly, the spice for delivery in April contracts traded lower by Rs 102, or 1.45 per cent, to Rs 6,956 per quintal in an open interest of 14,250 lots.
Market analysts said offloading of positions by traders, triggered by fall in domestic and export demand at the spot market against adequate stock position on increased supplies, mainly kept pressure on turmeric prices in futures trade.
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