Turmeric futures gain 2.47% on fresh buying support

Turmeric futures rose by Rs 190 to Rs 7,876 per quintal in futures trade today as traders created fresh positions, supported by some local demand in the spot market.

At the National Commodity and Derivatives Exchange, turmeric for delivery in September rose by Rs 190, or 2.47%, to Rs 7,876, with an open interest for 1,460 lots.

Likewise, the spice for July contract delivery moved up by Rs 160, or 2.07%, to Rs 7,896 in 8,295 lots.

Traders said fresh buying by traders, supported by some local demand in the spot market, led to the rise in turmeric futures price.