Turmeric prices drifted lower by 1.99 per cent to Rs 7,516 per quintal in futures market today as participants cut down their bets on fall in demand from upcountry and industrial buyers at the spot market.
At the National Commodity and Derivatives Exchange, turmeric for delivery this month declined Rs 152, or 1.98 per cent, to Rs 7,516 per quintal with an open interest of 6,080 lots.
Similarly, the contract for September delivery was trading at Rs 7,610, down by 1.98% or Rs 154 with open interest of 12,530 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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