Turmeric futures remain weak on profit booking

Turmeric prices fell further by Rs 196 to Rs 9,750 per quintal in futures trade today, as speculators continued to book profits at existing higher levels.

Estimates of higher production next year has also put pressure on the prices.

At the National Commodity and Derivatives Exchange counter, turmeric for delivery in June dipped by Rs 196, or 1.97 per cent, to Rs 9,750 per quintal with an open interest of 335 lots.

The spice for delivery in April fell by Rs 116, or 1.11 per cent, to Rs 10,344 per quintal, with a business turnover of 5,785 lots.

Market analysts said continued profit booking by speculators, amid estimates of higher production pulled down turmeric futures prices.