Turmeric futures decline on profit bookings

Turmeric prices declined by Rs 88 to Rs 8,980 per quintal in futures trade today, as speculators booked profits on subdued spot market demand.

At the National Commodity and Derivatives Exchange, turmeric for delivery in far-month April contract fell by Rs 88 or 0.97 per cent to Rs 8,980 per quintal, with an open interest of 2,035 lots.

Likewise, the spice for delivery in May contract lost Rs 38 or 0.43 per cent to Rs 8,850 per quintal in 235 lots.

Market analysts said profit booking by speculators on subdued spot market demand led to the fall in turmeric futures prices.