Turmeric futures fell by Rs 174 to Rs 5,130 per quintal today, as speculators reduced their positions, driven by a weak trend at the spot market on subdued demand.
Expectations of higher output in the producing region also dampened trading sentiments to some extent..
At the National Commodity and Derivatives Exchange, November turmeric fell by Rs 174, or 3.28%, to Rs 5,130 per quintal, with an open interest of 10,245 lots.
The October contract moved down by Rs 152, or 2.91%, to Rs 5,070 per quintal, with a business turnover of 3,955 lots.
Market analysts said besides speculators reducing their positions, sluggish demand in the spot market also led to the fall in turmeric prices at futures trade here.
They said reports of a higher production also put pressure on the turmeric futures prices.
