Turmeric moves up in futures trade on better demand


NEW DELHI: Turmeric prices moved up by Rs 60 to Rs 4,672 per quintal in futures tradetoday as speculators created fresh positions, driven by an improvement in demand in the spot market.

At the National Commodity and Derivatives Exchange, turmeric for delivery in August month rose by Rs 60, or 1.30 per cent to Rs 4672 per quintal with an open interest of 7460 lots.

Similarly, the spice for delivery in September contract edged up by Rs 58, or 1.24 per cent to Rs 4,726 per quintal in 21,295 lots.

Market analysts said speculators created fresh positions after demand improved in the spot market mainly led to rise in rise in turmeric prices at futures trade.

Source: India Times


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