Turmeric prices fell by Rs 126, or 0.86 per cent, to Rs 14,570 per quintal in futures trading today, as speculators booked profits at prevailing higher prices amid hopes of better yield this season.
At the National Commodity and Derivatives Exchange, turmeric for August delivery fell by Rs 126, or 0.86 per cent, to Rs 14,570 per quintal, with an open interest of 6,850 lots.
The spice for September contract declined by Rs 116, or 0.80 per cent, to Rs 14,400 per quintal, with an open interest of 580 lots, while current-month July delivery eased by Rs 84, or 0.55 per cent, to Rs 15,062 per quintal, with an open interest of 9,355 lots.
Market analysts said profit-booking at higher prices by speculators mainly led to a fall in turmeric prices at futures trading. Traders expected a higher yield this season on revival of the monsoon, they said.
