Turmeric futures down on profit-booking

Turmeric prices fell by Rs 230 to Rs 11,352 per quintal in futures trade today, as speculators indulged in profit-booking at existing higher levels.

At the National Commodity and Derivatives Exchange counter, turmeric for delivery in December-month fell by Rs 230, or 1.99 per cent, to Rs 11,352 per quintal, with a business turnover of 1,070 lots.

Similarly, the spice for delivery in October declined by Rs 80, or 0.55 per cent to Rs 14,590 per quintal, with an open interest of 11,250 lots.

Market analysts said emergence of profit-booking by speculators led to a fall in turmeric futures prices but pick up in domestic demand driven by festive season capped losses.