Turmeric prices were trading up by 2.52 per cent to Rs 5,770 per quintal in futures trade today as participants built up fresh positions, triggered by uptick in domestic as well export demand in the spot market. Besides, restricted supplies from producing regions also added support to turmeric prices uptrend. At the National Commodity and Derivatives Exchange, turmeric for delivery in August contract was trading higher by Rs 142, or 2.52 per cent, to Rs 5,770 per quintal, with an open interest of 270 lots. Similarly, the spice for delivery in July month increased by Rs 136, or 2.44 per cent, to Rs 5,706 per quintal in 15,845 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.
Turmeric futures rises 2.52% on uptick in demand
Press Trust of India |