 "Turmeric declines 1.04% on profit-booking")
Turmeric prices declined by 1.04% to Rs 4,556 per quintal in futures trade today as speculators booked profits at prevailing higher levels, driven by a weak trend at spot market on sluggish demand.
Adequate stocks availability in the physical market also put pressure on turmeric prices.
At the National Commodity and Derivatives Exchange, November turmeric fell by Rs 48, or 1.04%, to Rs 4,556 per quintal with an open interest of 11,680 lots.
Analysts said besides profit-booking by speculators at prevailing higher levels against sufficient supplies in the spot market mainly led to decline in turmeric prices at futures trade.
Adequate stocks availability in the physical market also put pressure on turmeric prices.
At the National Commodity and Derivatives Exchange, November turmeric fell by Rs 48, or 1.04%, to Rs 4,556 per quintal with an open interest of 11,680 lots.
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The December spice shed Rs 24, or 0.50%, to Rs 4,740 per quintal in 13,230 lots.
Analysts said besides profit-booking by speculators at prevailing higher levels against sufficient supplies in the spot market mainly led to decline in turmeric prices at futures trade.