Turmeric futures up on fresh buying support

Turmeric prices moved up by Rs 48 to Rs 9,340 per quintal in futures trade today as speculators created fresh positions on pick-up in spot market demand.

At the National Commodity and Derivatives Exchange, turmeric for delivery in May gained Rs 48, or 0.52%, to Rs 9,340 per quintal, with an open interest of 5,145 lots.

Likewise, the spice for delivery in April edged up by Rs 22, or 0.22%, to Rs 9,810 per quintal, with a business turnover of 7,780 lots.

Analysts attributed the rise in turmeric futures prices to a rise in demand in the spot market.

However, rising supplies from the new season crop restricted the gains, they added.