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Turmeric trades lower on profit booking

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Press Trust of India New Delhi

Amid profit booking by speculators, turmeric prices fell by Rs 80 or 0.55 per cent to Rs 14,581 per quintal in futures trade today.

Weak trend at spot markets owing to sluggish demand also put some pressure on the turmeric futures.

At the National Commodity and Derivatives Exchange, turmeric for delivery in June-month contract traded Rs 80, or 0.55 per cent lower at Rs 14,581 per quintal, with an open interest of 9,560 lots.

Similarly, the spice for delivery in August declined by Rs 27, or 0.19 per cent to Rs 14,020 per quintal, with an open interest of 1,400 lots.

 

Market analysts said profit-taking by speculators at the existing higher levels and fall in demand, pulled down the turmeric prices at futures market here.

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First Published: Jun 08 2010 | 2:52 PM IST

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