Turmeric futures decline on profit-booking

Turmeric fell by 1.69% to Rs 10,340 per quintal today in the futures trade on profit booking by speculators.

However, a firm spot demand restricted the losses.

At the National Commodity and Derivatives Exchange, turmeric for delivery in April drifted by Rs 178, or 1.69%, to Rs 10,340 per quintal, with an open interest of 5,690 lots.

May turmeric shed Rs 102, or 1.07%, to Rs 9,472 per quintal, with a trade volume of 10,820 lots.

Analysts said apart from profit-booking by speculators, rising supplies of the new crop also weighed heavy on turmeric futures prices here.