Turmeric futures rise on thin supplies

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Turmeric futures exhibited a positive trend on NCDEX as participants enlarged their positions, on less stocks and restricted supplies in the spot market.  Liquidity crunch continued to take a toll on the trades at the Agricultural Produce Market Committees (APMCs) across the country as farmers, by and large, refrained from bringing their crops to the markets. In some markets like in Erode in Tamil Nadu, traders were unable to deal with the currency shortage and decided to declare holiday for a week and re-open on November 21, 2016.

The contract for November delivery was trading at Rs 7680, up by 0.97% or Rs 74 from its previous closing of Rs 7606. The open interest of the contract stood at 710 lots.

The contract for December delivery was trading at Rs 7028, up by 0.4% or Rs 28 from its previous closing of Rs 7000. The open interest of the contract stood at 8315 lots on NCDEX.

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