Turmeric futures up 1.82%

Turmeric prices rose by Rs 220, or 1.82 per cent, to Rs 12,340 per 100 kg in futures trade, supported by firming trend at physical markets despite estimates of higher output with an increase in the area under the spice. 

At the National Commodity and Derivatives Exchange (NCDEX) counter, turmeric for delivery in October traded higher by Rs 220, or 1.82 per cent, to Rs 12,340 per 100 kg, with a business volume of 6,475 lots.

It ended up 0.05 per cent at Rs 12,120 per 100 kg in the previous session.

The spice for delivery in November month contract also traded Rs 188, or 1.60 per cent higher, to Rs 11,950 per 100 kg, with an open interest of 3,850 lots.

 

Marketmen said speculative positions created by traders on tight supplies in the market, helped turmeric prices to rise at futures market but estimates of higher output with an increase in the area under the spice, capped gains.