Turmeric futures up 0.63% on low arrivals

Turmeric futures prices gained by Rs 84 to Rs 13,390 per quintal today, as speculators created positions, driven by lower arrivals.

Besides, a firm trend in domestic markets on strong demand also supported the upside in the prices.

At the National Commodity and Derivatives Exchange counter, turmeric for delivery in November rose by Rs 84, or 0.63 per cent, to Rs 13,390 per quintal, with open interest of 11,805 lots.

The spice for December delivery up by Rs 28, or 0.22 per cent, to Rs 12,480 per quintal, with open interest of 3,215 lots.

Marketmen said the rise in turmeric futures was attributed to tight stocks in the spot markets, following restricted arrivals, triggering speculative buying by traders.