Turmeric futures go up 1.98% on firm demand

Turmeric prices rose by 1.98 per cent to Rs 7,936 per quintal in futures trade today on creation of more bets, powered by pick-up in domestic and export demand.
Furthermore, expectations of a surge in demand in view of the new season gave the uptrend a push.
At the National Commodity and Derivatives Exchange, turmeric for delivery in April traded higher by Rs 154, or 1.98 per cent, to Rs 7,936 per quintal with an open interest of 10,935 lots.
The spice for delivery in May also increased by Rs 148, or 1.90 per cent, to Rs 7,950 per quintal, in an open interest of 60 lots.

Analysts said fresh positions following a surge in domestic as well as export demand in the spot market against restricted supplies from producing regions pushed up the turmeric prices.