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Turmeric succumbs to profit taking, down 0.64%

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Press Trust of India New Delhi

Turmeric prices fell Rs 84, or 0.64 per cent, to Rs 13,068 per quintal in futures market today, as speculators indulged in profit-booking at existing higher levels and fall in demand at spot markets.

At the National Commodity and Derivatives Exchange counter, turmeric for delivery in September fell by Rs 84, or 0.64 per cent, to Rs 13,068 per quintal, with an open interest of 7,700 lots.

Similarly, the spice for delivery in October-month lost Rs 52, or 0.42 per cent, to Rs 12,340 per quintal, with an open interest of 1,585 lots.

Market analysts said profit-taking by speculators due to fall in demand in the spot market mainly led to a fall in turmeric prices at futures trade.

 

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First Published: Aug 31 2010 | 3:14 PM IST

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