Turmeric prices declined by 0.93 per cent to Rs 6,426 per quintal in futures trade today as speculators reduced exposure, driven by adequate stocks position on increased arrivals from producing regions at spot market against subdued demand.
At the National Commodity and Derivatives Exchange, turmeric for delivery in April fell by Rs 60, or 0.93 per cent to Rs 6,426 per quintal with an open interest of 6,345 lots.
Similarly, the spice for delivery in May contracts declined by Rs 58, or 0.88 per cent to Rs 6,498 per quintal in 9,745 lots.
Market analysts said offloading of positions by traders, triggered by sufficient stocks position on increased supplies from producing belts in the physical market against muted demand, mainly weighed on turmeric prices at futures trade.
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