Turmeric prices drifted lower by
1.97 per cent to Rs 7,450 per quintal in futures market today on account of easing demand from retailers and industrial buyers at the spot market.
Further, ample stocks position following higher supplies from the producing belts, too, fuelled the downtrend.
At the National Commodity and Derivatives Exchange, turmeric for delivery in May declined Rs 150, or 1.97 per cent, to Rs 7,450 per quintal, with an open interest of 4,570 lots.
Similarly, the spice for delivery in June lost Rs 144, or 1.88 per cent, to Rs 7,530 per quintal in 14,820 lots.
Market analysts said offloading of positions by traders, triggered by fall in demand at the domestic spot markets against adequate stock position on increased supplies, mainly kept pressure on turmeric prices in futures trade.
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