Turmeric futures rise 0.59% on uptick in demand

Turmeric prices were up by 0.59 per cent to Rs 7,744 per quintal in futures trade today on account of uptick in domestic as well as exports demand.
Besides, restricted supplies following damage to crops due to heavy rains too fuelled the uptrend.
At the National Commodity and Derivatives Exchange, turmeric for delivery in current month was trading higher by Rs 46, or 0.59 per cent, to Rs 7,744 per quintal, with an open interest of 6,715 lots.
Similarly, the spice for delivery in September contract increased by Rs 38, or 0.48 per cent, to Rs 7,832 per quintal in 12,420 lots.

Analysts said fresh positions created by traders following an 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.