Turmeric prices dropped by Rs 280, or 2.03 per cent, to Rs 13,500 per quintal in futures trade today as speculators reducing their positions on subdued export demand.
Good rains in key growing areas raised hopes of better crop also put pressure on the prices.
At the National Commodity and Derivatives Exchange counter, turmeric for delivery in October dropped by Rs 280, or 2.03 per cent to Rs 13,500 per quintal with an open interest of 340 lots.
Similarly, the spice for delivery in august month fell by Rs 146, or 1.03 per cent, to Rs 13,978 per quintal in 8170 lots.
Market analysts said speculators reducing their positions on sluggish export demand and good rains in key growing areas raised hopes of good crop led to fall in turmeric prices at futures trade.
