Turmeric extend losses on profit-booking
Amid continued profit-booking by speculators after recent gains and subdued spot demand, turmeric prices fell further by 1.47% to Rs 4,164 per quintal in futures trade today.
In addition, rising inventories also put pressure on sentiment.
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At the National Commodity and Derivatives Exchange, turmeric for delivery in August fell by Rs 62, or 1.47%, to Rs 4,164 per quintal, with an open interest of 29,225 lots.
Similarly, the spice for delivery in July shed Rs 46, or 1.09%, to Rs 4,176 per quintal in 39,305 lots.
Market analysts said sustained profit-bookings by speculators at prevailing and weak demand in the spot market against mounting inventories kept pressure on turmeric prices at futures market.