Turmeric futures rise on strong demand

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Turmeric futures exhibited a positive trend on NCDEX as traders created fresh positions on the back of strong demand in the spot markets. However, gains remained capped on expectations of increasing production in coming harvesting season and lowering export Currency demand in recent months. Favourable weather conditions in major producing regions Tamil Nadu and Telangana also weighed on the sentiment.

The contract for November delivery was trading at Rs 7500, up by 1.46% or Rs 108 from its previous closing of Rs 7392. The open interest of the contract stood at 850 lots.

The contract for December delivery was trading at Rs 6876, up by 0.17% or Rs 12 from its previous closing of Rs 6864. The open interest of the contract stood at 8295 lots on NCDEX.

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