Turmeric down on profit-booking
Turmeric prices fell by 2.87% to Rs 4,530 per quintal at futures trade today as speculators indulged in booking profits after recent gains.
However, concerns over weak rainfall in key growing areas restricted the losses.
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At the National Commodity and Derivatives Exchange, turmeric for delivery in July traded Rs 134, or 2.87%, lower at Rs 4,530 per quintal, with an open interest of 2,450 lots.
Likewise, the spice for delivery in August fell by Rs 128, or 2.64%, to Rs 4,714 per quintal, with an open interst of 25,280 lots.
Analysts said the rise in turmeric futures was mostly due to emergence of profit-booking at prevailing higher levels by speculators but reports of lower monsoon rains in key growing regions, which could delay crop's sowing, limited the losses.