Turmeric down 0.9% on profit-booking

Decline in area under cultivation influences prices

Turmeric prices fell by 0.94% to Rs 6,334 per quintal at futures trade today as speculators indulged in booking profits after turmeric hit upper circuit in yesterday's trade.

At the National Commodity and Derivatives Exchange, turmeric for delivery in October traded Rs 60, or 0.94%, lower at Rs 6,334 per quintal, with an open interest of 11,585 lots.

The September contract fell by Rs 18, or 0.29%, to Rs 6,208 per quintal, with an open interest of 18,645 lots.

The contract had ended 4.01% higher in yesterday's trade at Rs 6,226 per quintal.

Analysts said the fall in turmeric futures was due to emergence of profit-booking after recent gains on the back of a decline in area under cultivation.