Turmeric prices ended higher by 3.18 per cent to Rs 7,402 per quintal in futures trade today as participants built up fresh positions, triggered by uptick in domestic as well as export demand in the spot market.
Further, turmeric acreage is likely to decline this season due to poor realisation and adverse weather also added support to uptrend in turmeric prices.
At the National Commodity and Derivatives Exchange, turmeric for delivery this month was trading higher by Rs 228, or 3.18 per cent, to close at Rs 7,402 per quintal, with an open interest of 840 lots.
Similarly, the spice for delivery in August increased by Rs 202, or 2.77 per cent, to end at Rs 7,504 per quintal in 16,710 lots.
Analysts said fresh positions created by traders following upsurge in domestic as well as export demand in the spot market against restricted supplies from producing regions, mainly pushed up turmeric prices at futures trade.
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