Turmeric Futures Closed Lower

Turmeric futures closed lower for the second consecutive session on Tuesday due to profit booking at higher levels. There are reports of good production from new season crops which may pressurize prices as the harvesting begins in the next month. Turmeric Dec’16 delivery contract on NCDEX closed 0.96% down to settle at Rs 7,246 per quintal. Currently the supplies are for medium and poor quality in December till new crop arrives. However, good demand and dwindling supplies in the physical market may keep the prices above Rs. 7000 per Quintal.

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