Turmeric in futures fell to Rs 6,298 per quintal over weak demand

Turmeric prices drifted lower by 1.99 per cent in futures market Tuesday 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 128, or 1.99 per cent, to Rs 6,298 per quintal with an open interest of 175 lots.

Similarly, the delivery for May was trading lower by Rs 60, or 0.94 per cent, at Rs 6,324 in a business turnover of 18,120 lots. Market analysts said offloading of positions by traders, triggered by fall in demand at the domestic spot market mainly exerted pressure on prices here.