Turmeric gains 1.45% on strong demand

Restricted arrival from producing belts helps growth

Turmeric prices gained 1.45% to Rs 6,294 per quintal in futures trade today on the back of strong domestic and overseas demand. Restricted arrivals from producing belts also supported the rise.

At the National Commodity and Derivatives Exchange, turmeric for delivery in September rose by Rs 90, or 1.45%, to Rs 6,294 per quintal with an open interest of 11,855 lots.

The August contract traded higher by Rs 74, or 1.23%, to Rs 6,096 per quintal in 15,770 lots.

Analysts said strong domestic demand for the upcoming festivals against restricted arrivals from producing belts and increased offtake by exporters pushed up the turmeric prices.