Turmeric prices plunged Rs 564, or 3.77 per cent, to Rs 14,380 per 100 kg in futures trade after speculators booked profits amid higher sowing in the key cultivating regions.
At the National Commodity and Derivatives Exchange counter, turmeric for delivery in August contract suffered the most, with a steep fall of Rs 564, or 3.77 per cent, to Rs 14,380 per 100 kg, with an open interest of 3,105 lots.
The spice for delivery in September contract also traded Rs 66, or 0.49 per cent, to Rs 13,510 per 100 kg, with an open interest of 5,315 lots.
Analysts said emergence of profit-taking by speculators, driven by recent gains and higher sowing of the spice in cultivating regions attributed to the fall in turmeric futures.
