Turmeric futures gain on exports demand, low stocks

Turmeric traded Rs 90 or 0.62 per cent higher at Rs 14,594 per quintal in futures trade, after traders enlarged their positions, supported by overseas trend.

However, expectations of higher acreage followed by reports of normal monsoon rains, limited gains in futures trade.

At the National Commodity and Derivatives Exchange counter, turmeric for delivery in current-month June contract traded Rs 90 or 0.62 per cent higher at Rs 14,594 per quintal, with an open interest of 8,910 lots.

Similarly, the spice for delivery in July-month contract gained Rs 72, or 0.50 per cent at Rs 14,440 per quintal, with an open interest of 5,355 lots.

Analysts attributed the rise in turmeric prices at futures market to overseas enquiries and fall in arrivals at physical markets, but expectations of higher acreage from the producing regions, restricted gains.