Turmeric futures down on profit-booking

NEW DELHI: Turmeric prices fell by Rs 20 to Rs 6,670 per quintal in futures trade today as speculators trimmed their positions amid weak export demand and higher carry-forward stocks.

However, reports of lower area under cultivation this year, due to scant rainfall during the planting season limited the gains.

At the National Commodity and Derivatives Exchange, turmeric for delivery in May fell by Rs 20, or 0.30 per cent, to Rs 6,670 per quintal, with an open interest of 7,255 lots.

Likewise, the spice for delivery in April lost Rs 6, or 0.09 per cent, to Rs 6,560 per quintal, in a business turnover of 28,535 lots.

Marketmen said the fall in turmeric prices at futures trade was mostly due to higher carry-forward stocks, approaching fresh supplies and weak export demand but weather concerns in key growing regions limited the fall in prices.