Turmeric prices fell by 1.41% to Rs 5,886 per quintal at futures trade today as speculators reduced positions amid fall in domestic demand at the spot markets and weak overseas inquiries.
At the National Commodity and Derivatives Exchange, turmeric for delivery in September traded Rs 84, or 1.41%, lower at Rs 5,886 per quintal, with an open interest of 14,555 lots.
October turmeric fell by Rs 76, or 1.27%, to Rs 5,892 per quintal, with an open interest of 15,375 lots.
Analysts said the fall in turmeric futures was mostly due to off-loading of positions by participants as demand in the spot markets declined and fall in export inquiries.
Lesser area under cultivation limited the losses, they added.