Turmeric futures up 1.21% on spot demand

Turmeric prices rose by 1.21 per cent to Rs 6,844 per quintal in futures trade Friday as participants raised their positions, driven by pick-up in demand at the spot market.

At the National Commodity and Derivatives Exchange, turmeric for April next year moved up by Rs 82, or 1.21 per cent, to Rs 6,844 per quintal with an open interest of 10,460 lots.

The spice for December also advanced by Rs 24, or 0.36 per cent, to Rs 6,628 per quintal with an open interest of 13,085 lots.

Marketmen said speculative positions created by participants, driven by strong domestic as well as exports demand in the spot market, mainly attributed the rise in turmeric prices.