Turmeric prices plunged by 3.85 per cent to Rs 7,334 per quintal in futures trade today as speculators trimmed their exposure amid fall in demand at the spot market against adequate stocks.
At the National Commodity and Derivatives Exchange, turmeric for delivery in October month dropped by Rs 294, or 3.85 per cent, to Rs 7,334 per quintal with an open interest of 23,210 lots.
On similar lines, the spice for delivery in far-month November contracts eased by Rs 260, or 3.29 per cent to Rs 7,634 per quintal in 4,355 lots.
Market analysts attributed sharp fall in turmeric futures to subdued demand at the spot market against ample stocks on higher supplies from producing belts.
