Turmeric futures remain up on lower output hopes

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NEW DELHI: Turmeric prices rose for the second day by gaining Rs 86 to Rs 6336 per quintal in futures trading today as speculators enlarged their positions, triggered by reports of lower output this season.

At the National Commodity and Derivatives Exchange, turmeric for delivery in April gained Rs 86, or 1.38 per cent to Rs 6336 per quintal with an open interest of 27655 lots.

Similarly, the spice for delivery in May moved up by Rs 80, or 1.26 per cent to Rs 6436 per quintal in 8215 lots.

Market analysts said speculators enlarged their positions, triggered by reports of lower output this season mainly helped turmeric prices to rise for the second day at futures trade.

Source: India Times

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