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Turmeric futures rise 0.53 pc on high demand

Press Trust of India  |  New Delhi 

Turmeric prices were trading up by 0.53 per cent to Rs 7,560 per quintal in futures trade today as speculators built up fresh positions amid pick up in demand in the spot market.

In addition, tight stocks position on fall in supplies from producing regions supported the upmove.

At the National Commodity and Derivatives Exchange, turmeric for delivery in August gained Rs 40, or 0.53 per cent, to Rs 7,560 per quintal with an open interest of 16,460 lots.

Similarly, the spice for delivery in September was enquired higher by Rs 36, or 0.47 per cent, to Rs 7,652 per quintal in 1,180 lots.

Analysts said fresh positions created by traders following uptick in domestic as well as export demand in the spot market against tight stocks position on restricted supplies from producing regions, mainly attributed the rise in turmeric prices at futures trade.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, July 17 2017. 17:48 IST