Turmeric futures up on tight supply

Supported by short supplies and diminishing stocks, turmeric futures prices rose by 0.57 per cent to Rs 15,100 per quintal today.

However, subdued exports and estimates of higher output, capped gains.

At the National Commodity and Derivatives Exchange platform, turmeric for delivery in December surged by Rs 86, or 0.57 per cent to Rs 15,100 per quintal, with an open interest of 5,020 lots.

Similarly, the spice for delivery in April rose by Rs 60, or 0.62 per cent to Rs 9,670 per quintal, with an open interest of 3,125 lots.

Marketmen said tight supplies and rallying stocks mainly supported the upside in turmeric futures prices, trigggering speculative activity.