Turmeric futures down over 2% on weak export demand

At the National Commodity and Derivatives Exchange,turmeric for delivery in November fell by Rs 112,or 2.12 per cent,to Rs 5,160 per quintal,with an open interest of 16,345 lots.

Similarly,the spice for delivery in December traded lower by Rs 154,or 2.95 per cent,to Rs 5,068 per quintal in 6,885 lots.

Analysts said besides anticipations of good crop,weak overseas demand mainly pulled down turmeric prices at futures trade.

The NCDEX will withdraw the special margin of 20 per cent on the long side of November and December turmeric contract effective from Saturday,according to a exchange notification.