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Turmeric prices plunged 2.43% to Rs 6,676 per quintal in futures trade today as speculators trimmed positions amid sluggish domestic demand and adequate supplies.
At the National Commodity and Derivatives Exchange, turmeric for delivery in June dropped by Rs 166, or 2.43%, to Rs 6,676 per quintal with an open interest of 11,805 lots.
Similarly, the spice for delivery in May lost Rs 120, or 1.83%, to Rs 6,450 per quintal in 340 lots.
Analysts said offloading of positions by speculators, driven by sluggish demand in the spot market against adequate supplies from producing regions, mainly pulled down turmeric prices at futures trade.
