Business Standard

Turmeric futures surge 3% on spot demand

Related News

prices rose by over 3% to Rs 4,588 per quintal in futures trade today, as speculators created fresh positions, driven by a rise in spot demand.

Restricted supplies following holding back of stocks by speculators on hopes of an improvement in prices in coming days, also supported the rise.

At the National Commodity and Derivatives Exchange, turmeric for delivery in April rose by Rs 140, or 3.15%, to Rs 4,588 per quintal, with an open interest of 10,115 lots.

The May contract moved up by Rs 54, or 1.23%, to Rs 4,444 per quintal, with a business turnover of 2,245 lots.

Analysts said apart from pick-up in demand in the spot market, holding back of stocks by speculators on hopes of rise in prices in coming days,also led to the rise in turmeric prices at futures trade here.

Read more on:   
|
|

Turmeric futures surge 3% on spot demand

Turmeric prices rose by over 3% to Rs 4,588 per quintal in futures trade today, as speculators created fresh positions, driven by a rise in spot demand.

prices rose by over 3% to Rs 4,588 per quintal in futures trade today, as speculators created fresh positions, driven by a rise in spot demand.

Restricted supplies following holding back of stocks by speculators on hopes of an improvement in prices in coming days, also supported the rise.

At the National Commodity and Derivatives Exchange, turmeric for delivery in April rose by Rs 140, or 3.15%, to Rs 4,588 per quintal, with an open interest of 10,115 lots.

The May contract moved up by Rs 54, or 1.23%, to Rs 4,444 per quintal, with a business turnover of 2,245 lots.

Analysts said apart from pick-up in demand in the spot market, holding back of stocks by speculators on hopes of rise in prices in coming days,also led to the rise in turmeric prices at futures trade here.

image

Read More

Sugar falls on weak demand

Prices fell due to rising supplies from mills

Recommended for you

Advertisements

Quick Links

Market News

MAT effect: FIIs set to break 15-month buying streak in Indian debt

April may see first debt market outflows since November 2013

Silver futures up by 0.5% on global cues

Speculators enlarged positions amid a firm trend at spot market on rising demand

Gold gains by 0.2% on global cues

Speculators created fresh positions amidst positive cues from the global market

Aluminium rises by 0.3% on global cues

Traders created fresh positions, buoyed by firming trend overseas and rising demand

Nickel rise by 0.6% on global cues

Speculators enlarged positions, tracking a firming trend overseas amid rising demand in domestic spot markets

 

Back to Top