Turmeric prices moved down by 3.39 per cent to Rs 6,834 per quintal in futures trade today as participants reduced their exposure amid easing demand at domestic spot market against adequate stocks position.
Further, ample goods at inventories and increased supplies from growing belts also fuelled the downtrend.
At the National Commodity and Derivatives Exchange, turmeric for delivery in April fell by Rs 240, or 3.39 per cent, to Rs 6,834 per quintal, with an open interest of 8,225 lots.
Similarly, the spice for delivery in May fell by Rs 222, or 3.11 per cent, to Rs 6,916 per quintal in 6,990 lots.
Market analysts said offloading of positions by traders driven by fall in demand in the spot market against ample stocks position on increased supplies from growing regions, mainly put pressure on turmeric prices at futures trade.
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