Turmeric down 0.78% on profit-booking

Prices fall due to profit-booking after recent gains and subdued spot demand

Turmeric prices today fell by 0.78% to Rs 6,096 per quintal in futures trade due to profit-booking after recent gains and subdued spot demand.

However, expectations of lower output after farmers slashed the area under cultivation this season restricted losses.

At the National Commodity and Derivatives Exchange, turmeric for delivery in September traded Rs 48, or 0.78%t, lower at Rs 6,096 per quintal, with an open interest of 16,220 lots.

Similarly, the spice for delivery in October declined by Rs 46, or 0.74%, to Rs 6,184 per quintal in 13,105 lots.

Marketmen said profit-bookings by speculators recording sharp gains in the past few sessions put pressure on the turmeric futures.