 "Turmeric surge 3.7% on tight supply")
Turmeric prices surged by 3.78% to Rs 5,934 per quintal in futures trading today as speculators created fresh positions, driven by a rise in domestic as well as export demand in the spot market against tight supplies from producing belts.
At the National Commodity and Derivatives Exchange, turmeric for delivery in July surged by Rs 216, or 3,78% to Rs 5,934 per quintal with an open interest of 1,555 lots.
Similarly, turmeric for delivery in August shot up by Rs 214, or 3.69% to Rs 6,062 per quintal in 21,095 lots.
Market analysts said fresh positions created by speculators on the back of a rise in domestic and export demand in the spot market amid tight supplies from producing regions mainly pushed up turmeric prices at futures trade.
At the National Commodity and Derivatives Exchange, turmeric for delivery in July surged by Rs 216, or 3,78% to Rs 5,934 per quintal with an open interest of 1,555 lots.
Similarly, turmeric for delivery in August shot up by Rs 214, or 3.69% to Rs 6,062 per quintal in 21,095 lots.
Market analysts said fresh positions created by speculators on the back of a rise in domestic and export demand in the spot market amid tight supplies from producing regions mainly pushed up turmeric prices at futures trade.
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