Turmeric futures succumb to profit booking, weak spot cues

NEW DELHI, Nov 9:  Profit-booking by speculators and a weak trend at the spot markets, turmeric prices slumped by RS q40 to Rs 6,906 per quintal in futures trading today.
Marketmen said profit-booking by participants after yesterday’s rise, a weak trend at the physical markets due to slackened demand, led to fall in turmeric prices at futures trade here.
At the National Commodity and Derivative Exchange, turmeric for delivery this month fell sharply by Rs 140 or 1.99 percent to Rs 6,906 per quintal, with the business turnover of 2,255 lots.
Turmeric for most-active delivery in December also dipped by Rs 62 or 0.88 per cent to Rs 6,990 per quintal, in an open interest of 6,890 lots. (PTI)