Turmeric prices dropped by Rs 164, or 1.15 per cent, to Rs 14,086 per quintal in futures market today on emergence of profit booking by speculators at existing higher levels.
Expectations of higher sowing on revival of monsoon also kept some pressure on the turmeric prices in futures trade.
At the National Commodity and Derivatives Exchange platform, turmeric for delivery in August contract dropped by Rs 164, or 1.15 per cent, to Rs 14,086 per quintal, with an open interest of 5,820 lots.
Similarly, the spice for delivery in current-month July contract fell by Rs 154, or 1.08 per cent, to Rs 14,080 per quintal, with a business turnover of 10,075 lots.
Market analysts said apart from profit booking, expectations of higher sowing on revival of monsoon conditions in growing areas, weighed on the turmeric prices at futures market here.