Turmeric prices fell by 2.04% to Rs 7,954 per quintal in futures trade today after speculators reduced their positions following adequate stocks amid subdued local and export demand.
Analysts said trading sentiments turned weak on adequate stocks in the market following arrivals of new season crop in the market and subdued local and export demand.
At the National Commodity and Derivatives Exchange, turmeric for delivery in July shed Rs 166, or 2.04%, to Rs 7,954 per quintal, with an open interest of 3,090 lots.
Similarly, the spice for delivery in June traded Rs 106, or 1.30% down at Rs 8,034 per quintal, with an open interest of 8,725 lots.