Turmeric up 2.24% on spot demand

Turmeric futures prices rose by Rs 82 to Rs 3,748 per quintal in futures trading today as participants enlarged their positions amid a firming trend at spot market on rising demand.

Also, restricted supplies from producing belts also influenced turmeric futures here.

At the National Commodity and Derivatives Exchange, turmeric for delivery in July rose by Rs 82, or 2.24%, to Rs 3,748 per quintal, with an open interest of 38,170 lots.

The June contract up by Rs 72, or 2.03%, to Rs 3,626 per quintal, with an open interest of 1,575 lots.

Analysts said the rise in turmeric futures was mainly due to pick-up in demand in the spot markets amid fall in arrivals from producing regions.