Turmeric prices drifted lower by about 1 per cent to Rs 7,300 per quintal in the futures market today on account of easing demand from retailers and industrial buyers at the spot market.
Ample stocks position following higher supplies from the producing belts also fuelled the downtrend.
At the National Commodity and Derivatives Exchange, turmeric for delivery in July contract declined by Rs 60, or 0.81 per cent, to Rs 7,300 per quintal with an open interest of 14,160 lots.
Similarly, the spice for delivery in far-month August lost Rs 54, or 0.72 per cent, to Rs 7,380 per quintal in 6,655 lots.
Market analysts said off-loading of positions by traders, triggered by fall in demand at the domestic spot market against adequate stocks position on increased supplies mainly kept pressure on turmeric prices.
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