Turmeric futures gain 0.70% on spot demand

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Turmeric prices were up by 0.70 per cent to Rs 10,128 per quintal in futures trade today as participants built up fresh positions, tracking a firm trend at spot market on upsurge in demand.

Moreover, limited supplies from producing regions supported the upside.

At the National Commodity and Derivatives Exchange, turmeric for delivery in far-month May next year rose by Rs 70, or 0.70 per cent to Rs 10,128 per quintal with an open interest of 2,730 lots.

On similar lines, the spice for delivery in April contracts traded higher by Rs 60, or 0.61 per cent to Rs 9,962 per quintal in 21,870 lots.

Market analysts said fresh positions built up by traders following uptick in demand at the spot market against restricted supplies from producing belts mainly led to the rise in turmeric prices at futures trade.

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