Turmeric futures dropped for the second day on short selling triggered by steady arrivals and weak spices complex. The NCDEX Turmeric for the October contract ended the day at Rs5682, down Rs 126 or 2.17%. The spot prices in Nizamabad stood at Rs5,800 per quintal and the arrivals stood at 2,000 bags. Turmeric price quoted in the Erode mandi stood at Rs 6,000 per quintal and arrivals slipped to 4,000 bags from 5,000 bags. The October Turmeric recovered near Rs6k level and dropped from thereon on short selling by traders in last two sessions. The commodity came under selling pressure on the report of revival in the monsoon that may boost the yield. The NCDEX October turmeric contract fell to the low of Rs5632 and ended the day at Rs5682, down Rs 126 or 1.27% over the last close. The open interest added 1.70% to 16,905 tonnes, indicating short selling.
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