Turmeric prices drifted lower by 0.57 per cent to Rs 6,940 per quintal in futures market today 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 December declined Rs 40, or 0.57 per cent, to Rs 6,940 per quintal with an open interest of 7,350 lots.
Similarly, the spice for delivery in far-month April next year lost Rs 36, or 0.50 per cent, to Rs 7,084 per quintal in 2,700 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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