Turmeric prices fell sharply by Rs 194, or 1.37 per cent, to Rs 14,010 per 100 kg in futures trade after speculators locked in profits amid higher sowing in the key cultivating regions.
At the National Commodity and Derivatives Exchange counter, turmeric for delivery in August contract dropped by Rs 194, or 1.37 per cent, to Rs 14,010 per 100 kg, with an open interest of 6,730 lots.
Similarly, the spice for delivery in September-month contract traded Rs 110, or 0.80 per cent, to Rs 13,594 per quintal, with an open interest of 3,570 lots.
Market analysts said emergence of profit-taking by speculators after recent gains and higher sowing of the spice in cultivating regions mainly attributed to the fall in turmeric futures.
