Turmeric futures eases on profit booking

Turmeric futures prices moved down by Rs 56, or 0.34 per cent, to Rs 12,944 per quintal today, as speculators indulged in profit booking.

At the National Commodity and Derivatives Exchange platform, turmeric for delivery in November fell by Rs 56, or 0.43 per cent, to Rs 12,944 per quintal, with an open interest of 8,795 lots.

Similarly, the spice for delivery in December declined by Rs 40, or 0.34 per cent, to Rs 11,720 per quintal, clocking an open interest of 1,290 lots.

Market analysts said profit booking by speculators led to decline in turmeric futures prices. 

Estimates of higher production, following good rains and weak exports demand, also weighed on on futures trade, they said.