Turmeric prices were trading down 3.08 per cent to Rs 5,412 per quintal in futures trade today as participants reduced their exposure due to easing demand at the domestic spot markets.
Moreover, reports of higher stocks availability on increased supplies from the producing regions too fuelled the downtrend.
At the National Commodity and Derivatives Exchange, turmeric for delivery in May fell by Rs 172, or 3.08 per cent, to Rs 5,412 per quintal, with an open interest of 13,330 lots.
Similarly, the spice for delivery in June traded lower by Rs 112, or 1.98 per cent, to Rs 5,542 per quintal, in an open interest of 9,030 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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