Turmeric prices fell by Rs 34 to Rs 8,470 per quintal in futures trading today as traders reduced their positions, triggered by increased arrivals and subdued spot demand.
At the National Commodity and Derivatives Exchange, turmeric for delivery in July fell by Rs 34, or 0.40% to Rs 8,470 per quintal, with an open interest of 1,125 lots.
Likewise, the spice for delivery in June lost Rs 33, or 0.28% to Rs 8,476 per quintal, with a business turnover of 7,415 lots.
Analysts said the fall in turmeric futures prices was mostly due to the supply pressure in the spot markets against sluggish demand.
