PTI

Turmeric futures fall on profit-taking

Thu, Nov 5 01:50 PM

New Delhi, Nov 5 (PTI) Turmeric futures prices succumbed to profit-taking by speculators and traded up to 3.50 per cent down in futures trading, after recording handsome gains in the past few sessions. However, firm spot demand and worries over the output in the next season following damage to crop due to recent rains in the major growing regions capped losses.

At the NCDEX, turmeric for delivery in December contract traded 3.50 per cent down at Rs 10,258 per quintal with an open interest of 12,830 lots. Similarly, the spice for delivery in November contract drifted by 0.77 per cent to Rs 11,260 per quintal in an open interest of 18,310 lots.

Marketmen said emergence of profit-taking by speculators after recording handsome gains of about 35 per cent since the beginning of the month led to a decline in turmeric prices at the futures market here. They said, however, crop damage concerns due to recent rains in growing states like Andhra Pradesh and Karnataka, kept losses limited.

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