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Turmeric prices fell by 0.72% to Rs 5,770 per quintal in futures trade today as speculators offloaded their positions amid progress of rains ahead of schedule in growing regions.
Besides, mounting stocks also weighed on spice prices at futures trade.
At the National Commodity and Derivatives Exchange, turmeric for delivery in August fell by Rs 42, or 0.72%, to Rs 5,770 per quintal with an open interest of 10,655 lots.
Similarly, turmeric for delivery in the July contract declined by Rs 40, or 0.70%, to Rs 5,704 per quintal in 22,005 lots.
Marketmen said offloading of positions by speculators triggered by ample rains in growing regions and higher stocks, led to the fall in turmeric prices at futures trading but firm demand in the spot markets limited the fall.
