Turmeric up 1.2% on rising demand

Spice for delivery in November moved up by 1.03%

Turmeric prices rose by 1.20% to Rs 4,740 per quintal in futures trade today as speculators enlarged positions amid rising demand in the spot market.

At the National Commodity and Derivatives Exchange, turmeric for delivery in October month rose by Rs 56, or 1.20%, to Rs 4740 per quintal with an open interest of 11,230 lots.

Similarly, the spice for delivery in November moved up by Rs 50, or 1.03%, to Rs 4,884 per quintal in 9,650 lots.

Market analysts said rising demand in the spot markets mainly influenced turmeric prices at futures trade.