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Turmeric futures surge 1.12 pc on firm demand

Turmeric futures surge 1.12 pc on firm demand

New Delhi, Jan 23 (PTI) Turmeric prices were trading up by 1.12 per cent to close at Rs 7,402 per quintal in futures trade today on the back of uptick in domestic and export demand.

Moreover, tight stock positions against restricted supplies from producing regions also fuelled the upward trend.

In futures trading at the National Commodity and Derivatives Exchange, turmeric for delivery in April month was trading higher by Rs 82, or 1.12 per cent, to close at Rs 7,404 per quintal with an open interest of 10,690 lots. The spice for delivery in the far-month May contract increased by Rs 74, or 1 per cent, to finish at Rs 7,480 per quintal, in an open interest of 600 lots. Analysts said fresh positions created by participants following upsurge in domestic as well as export demand in the spot market against restricted supplies from producing regions, mainly pushed up turmeric prices at futures trade. PTI DP SUN MKJ