Turmeric futures falls from record level on profit booking

Turmeric futures prices fell by Rs 76 to Rs 10,580 per quintal today, as speculators booked profits after yesterday's rally.

However, squeeze in supplies and a likely delay in arrivals due to unseasonal rains, limited losses.

At the National Commodity and Derivatives Exchange counter, turmeric for delivery in April contract fell by Rs 76, or 0.71 per cent to Rs 10,580 per quintal, with an open interest of 5,080 lots.

It had touched a contract high of Rs 10,840 per quintal in yesterday's trade.

Likewise, the spice for delivery in May contract lost Rs 10, or 0.10 per cent to Rs 10,120 per quintal, with an open interest of 1,415 lots.

Analysts said profit booking by speculators after the spice hit a record high of Rs 10,840 per quintal in yesterday's trade, led to a fall in turmeric futures prices.

But negligible supplies in the physical market, restricted losses.