Turmeric futures marginally down on weak spot demand

NEW DELHI: Turmeric prices fell by Rs 48, or 1.29 per cent, to Rs 3,662 per quintal in futures trading today as participants booked profits amid weak spot demand.

However, short supplies in the market limited the losses to some extent.

At the National Commodity and Derivatives Exchange, turmeric for delivery in July fell by Rs 48, or 1.29 per cent, to Rs 3,662 per quintal, with an open interest of 35,870 lots.

Likewise, the spice for delivery in June lost Rs 28, or 0.78 per cent, to Rs 3,556 per quintal in 3,550 lots.

Analysts said sluggish demand at spot markets and profit-booking mainly put pressure on the turmeric futures here but short supplies on expectations that the area under turmeric cultivation would drop this year because restricted losses.