Turmeric prices fell by 1.42 per cent to Rs 6,490 per quintal in futures market Wednesday on account of tepid demand from retailers and industrial buyers at the spot market.
Furthermore, expectations of robust production and on profit-booking by market participants at prevailing higher prices also weighed on the turmeric prices.
At the National Commodity and Derivatives Exchange, turmeric for October declined by Rs 94, or 1.42 per cent, to Rs 6,490 per quintal with an open interest of 12,025 lots.
Market analysts said off-loading of positions by traders, triggered by fall in domestic as well as exports demand against adequate stocks position mainly exerted pressure on turmeric prices.
Similarly, the spice for November lost Rs 94, or 1.40 per cent, to Rs 6,586 per quintal in 3,215 lots.
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