Turmeric prices drifted lower by 0.27 per cent in futures market Friday as participants cut down their bets on weak domestic as well as export demand in the spot market.
At the National Commodity and Derivatives Exchange, turmeric for delivery in April declined by Rs 46, or 0.27 per cent, to Rs 6,316 per quintal with an open interest of 12,565 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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