Turmeric prices drifted lower by 0.43 per cent in futures market Monday as participants cut down their bets, tracking weak domestic as well as export demand in the spot market.
At the National Commodity and Derivatives Exchange, turmeric for delivery in November declined Rs 28 or 0.43 per cent to Rs 6,588 per quintal with an open interest of 12,565 lots.
Market analysts said offloading of positions by traders, triggered by fall in demand at the domestic spot markets against adequate stock position on increased supplies mainly kept pressure on turmeric prices in futures trade.
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