Turmeric futures up on tight supply

Turmeric rose by Rs 54 to Rs 7,274 per quintal in futures trading today on pick-up in demand in the spot market against restricted arrivals. 

At the National Commodity and Derivatives Exchange, turmeric for delivery in August rose by Rs 54, or 0.75%, to Rs 7,274 per quintal, with an open interest of 4,620 lots.

Similarly, the spice for delivery in July gained Rs 32, or 0.44%, to Rs 7,306 per quintal, with a business turnover of 8,845 lots.  

Traders said pick-up in spot market demand against less arrivals led to the rise in turmeric futures prices.