Turmeric prices drifted lower by 1.21 per cent to Rs 7,320 per quintal in futures market today owing to easing demand from retailers and industrial buyers at the spot market.
Furthermore, ample stocks position following higher supplies from the producing belts too fuelled the downtrend.
At the National Commodity and Derivatives Exchange, turmeric for delivery in the current month declined Rs 90, or 1.21 per cent, to Rs 7,320 per quintal with an open interest of 9,170 lots.
Similarly, the spice for delivery in June lost Rs 78, or 1.04 per cent, to Rs 7,398 per quintal in 10,445 lots.
Market analysts said offloading of positions by traders,
triggered by fall in demand at the domestic spot markets against
adequate stock positions on increased supplies kept pressure on