Turmeric prices slipped 2.53 per cent to Rs 7,170 per quintal in futures market today as traders locked in gains at prevailing higher levels amid increased supply from growing regions.
At the National Commodity and Derivatives Exchange, turmeric for delivery this month contract declined by Rs 186, or 2.53 per cent, to Rs 7,170 per quintal with an open interest of 380 lots.
Similarly, the spice for delivery in June lost Rs 170, or 2.30 per cent, to Rs 7,230 per quintal in 18,270 lots.
Market analysts said offloading of positions by traders, triggered by fall in demand at the domestic spot market against adequate stock positions on increased supplies kept pressure on turmeric prices in futures trade.
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