Turmeric futures up on low-level buying

Turmeric prices rose by Rs 84, or 0.64 per cent, to Rs 13,262 per 100 kg in futures trade as traders enlarged positions, fuelled by low-level buying in spot markets amid diminishing stocks.

However, higher sowing of the spice in key cultivating regions, capped gains.

At the National Commodity and Derivatives Exchange (NCDEX), turmeric for delivery in September-month traded higher by Rs 84, or 0.64 per cent, to Rs 13,262 per 100 kg, with a business volume of 7,170 lots.

It had gained 0.32 per cent to Rs 13,178 per 100 kg in the previous session.

The spice for delivery in November month contract also traded Rs 72, or 0.59 per cent higher at Rs 12,300 per 100 kg in an open interest of 220 lots.

 

Analysts said traders enlarged their positions, triggered by low-level buying activity at the spot market on diminishing stocks attributed to the rise in turmeric prices at the futures market here.