Turmeric prices dropped by Rs 200 to Rs 10,160 per quintal in futures trade today on arrival of new crop in the physical market against reduced offtake.
At the National Commodity and Derivatives Exchange, turmeric for delivery in April contract fell by Rs 200, or 1.93 per cent, to Rs 10,160 per quintal, with an open interest of 7,160 lots.
Similarly, the spice for delivery in May contract declined by Rs 140, or 1.44 per cent, to Rs 9,596 per quintal, with a business turnover of 4,600 lots.
Analysts said rising supplies of new crop amid subdued spot demand, mainly led to the decline in turmeric futures prices.
They said expectations of higher output estimates also influenced the turmeric prices.
