Turmeric futures rise 0.72 pc on rising demand

Turmeric prices were up by 0.72 per cent to Rs 6,160 per quintal in futures trading today as speculators indulged in creating fresh positions, driven by rising domestic as well as export demand in the spot market.
Besides, tight supplies from producing regions in the physical market also supported the upside.
At the National Commodity and Derivatives Exchange, turmeric for delivery in November gained Rs 44, or 0.72 per cent to Rs 6,160 per quintal with an open interest of 10,645 lots.
Similarly, the spice for delivery in October traded higher by Rs 40, or 0.65 per cent to Rs 6,178 per quintal in 6,440 lots.

Analysts said fresh positions built-up by speculators on the back of rising domestic and export demand in the spot market against tight supplies from producing belts mainly led to the rise in turmeric prices at futures trade.