Turmeric prices dropped by 1.50 per cent to Rs 7,246 per quintal in futures market today as speculators reduced exposure, taking negative cues from spot market on easing demand.
Besides, ample stock positions on increased arrivals from producing regions, weighed on prices.
At the National Commodity and Derivatives Exchange, turmeric for delivery in April declined by Rs 110, or 1.50 per cent, to Rs 7,246 per quintal with an open interest of 10,825 lots.
Likewise, the spice for delivery in May shed Rs 60, or 0.81 per cent, to Rs 7,322 per quintal in 785 lots.
Market analysts said cutting down of positions by traders owing to slackened demand in the physical market against adequate stock positions on increased supplies, mainly attributed the slide in turmeric prices at futures trade.
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