Turmeric prices fell sharply by Rs 226 to Rs 7,314 per quintal in futures trade today as speculators booked profits, driven by subdued spot market demand.
At the National Commodity and Derivatives Exchange, turmeric for September delivery declined by Rs 226, or 3% to Rs 7,314 per quintal, with an open interest of 5,600 lots.
Likewise, the spice for August delivery lost Rs 212, or 2.84%, to Rs 7,256 per quintal, with an open interest of 7,240 lots. It had closed 1.29% lower at Rs 7,468 per quintal in yesterday's trade.
Analysts said subdued demand at the spot markets mainly put pressure on the turmeric futures prices here.