Turmeric prices dipped by 2.04 per cent to Rs 5,568 per quintal in futures trade today as participants reduced their exposure at current levels amid fall in demand at the domestic spot markets.
At the National Commodity and Derivatives Exchange, turmeric for delivery in May fell by Rs 116, or 2.04 per cent to Rs 5,568 per quintal with an open interest of 825 lots.
Similarly, the spice for delivery in June contracts declined by Rs 74, or 1.30 per cent to Rs 5,630 per quintal in 16,715 lots.
Market analysts said offloading of positions by traders, driven by low demand in the spot markets against adequate stock position, mainly led to decline in turmeric prices at futures trade.
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