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Turmeric futures rise 1.13 pc on spot demand

Turmeric futures rise 1.13 pc on spot demand

New Delhi, Apr 26 (PTI) Turmeric prices rose by 1.13 per cent to Rs 6,938 per quintal in futures trade today as participants built up fresh positions, mainly driven by uptick in domestic and export demand.

Besides, limited arrivals from major producing regions fuelled the uptrend.

At the National Commodity and Derivatives Exchange, turmeric for delivery in May traded higher by Rs 78, or 1.13 per cent, to Rs 6,938 per quintal with an open interest of 11,805 lots.

Similarly, the spice for delivery in far-month June increased by Rs 78, or 1.12 per cent, to Rs 7,020 per quintal, in an open interest of 4,615 lots.

Analysts said fresh positions created by participants following jump in domestic as well as export demand at the spot market against restricted supplies from producing regions mainly pushed up turmeric prices in futures trade. PTI DP KPS MR