Turmeric futures decline on profit-booking

PTI Updated - April 11, 2011 at 12:31 PM.

Apart from profit-booking by speculators, rising supplies of the new turmeric crop also weighed heavy on futures prices here. PHOTO M. Govarthan

Turmeric fell by 1.69 per cent to Rs 10,340 a quintal today in the futures trade on profit booking by speculators.

However, a firm spot demand restricted the losses.

At the National Commodity and Derivatives Exchange, turmeric for delivery in April drifted by Rs 178 or 1.69 per cent to Rs 10,340 a quintal, with an open interest of 5,690 lots.

Similarly, the spice for delivery in May also lost Rs 102 or 1.07 per cent to Rs 9,472 a quintal, with a trade volume of 10,820 lots.

Analysts said apart from profit-booking by speculators, rising supplies of the new crop also weighed heavy on futures prices here.

Published on April 11, 2011 06:41