Turmeric futures up 1.87% as demand picks up

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urmeric prices rose by 1.87 per cent to Rs 8,700 per quintal in futures market today after participants built-up positions, supported by pick up in demand at the spot market.

At the National Commodity and Derivatives Exchange, turmeric for delivery in May rose by Rs 160, or 1.87 per cent to Rs 8,700 per quintal with an open interest of 26,435 lots.

Likewise, the spice for delivery in June moved up by Rs 142, or 1.66 per cent to Rs 8,686 per quintal in 16,240 lots.

Marketmen said widening of positions by speculators driven by rising demand in the spot market amid tight supplies from producing belts mainly led to the rise in turmeric prices at the futures trade.

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