Turmeric futures rise 1.48% as demand picks up

0
420

Turmeric prices rose by 1.48 per cent to Rs 8,638 per quintal in futures market today after participants built-up positions, supported by pick up in demand at the spot market.

However, some gains were capped on anticipation of good sowing at the producing regions in next season on forecast of good rains.

At the National Commodity and Derivatives Exchange, turmeric for delivery in current month rose by Rs 126, or 1.48 per cent, to Rs 8,638 per quintal, with an open interest of 5,235 lots.

Likewise, the spice for delivery in June moved up by Rs 82, or 1.01 per cent, to Rs 8,168 per quintal in 25,895 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 rise in turmeric prices at the futures trade.

LEAVE A REPLY

Please enter your comment!
Please enter your name here