Turmeric prices drifted lower by 1.98 per cent to close at Rs 6,930 per quintal in futures market today as participants offloaded holdings amid weak domestic as well as export demand in the spot market.
Besides, rising arrivals from major producing belts weighed on the turmeric futures.
At the National Commodity and Derivatives Exchange, turmeric for delivery in December declined Rs 140, or 1.98 per cent lower, to close at Rs 6,930 per quintal with an open interest of 7,750 lots.
Similarly, the spice for delivery this month lost Rs 66, or 0.94 per cent, to end at Rs 6,952 per quintal in 840 lots.
Market analysts said offloading of positions by traders, triggered by a fall in demand at the domestic spot markets against adequate stocks position on increased supplies, mainly kept pressure on turmeric prices in futures trade.