Turmeric prices drifted lower by 2.13 per cent to close at Rs 7,250 per quintal in futures market today as participants cut down bets on fall in demand from up-country and industrial buyers at the spot market.
At the National Commodity and Derivatives Exchange, turmeric for delivery in November month declined by Rs 158, or 2.13 per cent, to close at Rs 7,250 per quintal with an open interest of 3,195 lots.
Similarly, the contract for October delivery was trading at Rs 7,240, down 1.82 per cent, or Rs 134, with an open interest of 7,680 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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