Turmeric prices fell by 1.91 per cent to Rs 6,980 per quintal in futures trade today as speculators reduced exposure, driven by adequate stocks position on increased arrivals from producing regions at spot market against subdued demand.
At the National Commodity and Derivatives Exchange, turmeric for delivery in July fell by Rs 136, or 1.91 per cent, to Rs 6,980 per quintal with an open interest of 10,995 lots.
Similarly, the spice for delivery in the current month contract declined by Rs 132, or 1.87 per cent, to Rs 6,902 per quintal in 9,185 lots.
Analysts said off-loading of positions by participants, triggered by sufficient stocks position on increased supplies from producing belts in the physical market against muted demand weighed on turmeric futures.
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