Turmeric prices drifted lower by
0.60 per cent to Rs 6,600 per quintal in futures market Tuesday as participants cut down their bets, tracking weak domestic demand at the spot market.
At the National Commodity and Derivatives Exchange, turmeric for delivery in November declined Rs 40, or 0.60 per cent, to Rs 6,600 per quintal with an open interest of 11,950 lots.
Similarly, the spice for delivery in current month shed Rs 8, or 0.11 per cent, to Rs 6,950 per quintal in 1,680 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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