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Turmeric futures fall on profit taking

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Press Trust of India New Delhi

Turmeric futures prices fell by Rs 82, 0.63 per cent, to Rs 12,850 per quintal today, as speculators booked profits on subdued demand in spot markets.

However, pick up in demand and lower supplies in the spot markets, limited losses.

At the National Commodity and Derivatives Exchange counter, turmeric for November delivery fell by Rs 82, or 0.63 per cent, to Rs 12,850 per quintal, with an open interest of 9,110 lots.

Similarly, the spice for delivery in December lost Rs 52, or 0.44 per cent, to Rs 11,756 per quintal, with an open interest of 1,520 lots. 

Market analysts said profit booking by speculators after yesterday's gain, mainly led to a decline in turmeric futures prices, but strong demand in spot markets restricted losses.

 

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First Published: Oct 20 2010 | 2:16 PM IST

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