Turmeric prices drifted lower by 3.42 per cent to close at Rs 6,900 per quintal in futures market today as participants trimmed their positions on expectations of good supplies from the new season amid government auctions and lower exports data.
At the National Commodity and Derivatives Exchange, turmeric for delivery in current month declined Rs 244, or 3.42 per cent, to close at Rs 6,900 per quintal with an open interest of 185 lots.
Similarly, the spice for delivery in January lost Rs 42, or 0.57 per cent, to finish at Rs 7,372 per quintal in 8,965 lots.
Market analysts said offloading of positions by traders, triggered by fall in demand at the domestic spot markets against adequate stocks position on increased supplies, mainly kept pressure on turmeric prices in futures trade.
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