Turmeric prices softened by Rs 18 to Rs 6,228 per quintal in futures trade today as speculators reduced their positions, driven by subdued spot market demand.
Adequate stocks available in the physical market also put pressure on the turmeric prices.
At the National Commodity and Derivatives Exchange, turmeric for October delivery declined by Rs 18, or 0.29%, to Rs 6,228 per quintal, with an open interest of 2,410 lots.
Likewise, the spice for August delivery shed Rs 10, or 0.17%, to Rs 6,046 per quintal, with an open interest of 1,975 lots.
Analysts said subdued demand in the spot markets against adequate stocks position, mainly led to decline in turmeric futures prices.