Turmeric rises 1.48% on spot demand

Decline in area under cultivation influences prices

Supported by an improvement in demand, turmeric prices rose by 1.48% to Rs 5,758 per quintal in futures trading today as speculators engaged in enlarging positions.

At the National Commodity and Derivatives Exchange, turmeric for delivery in October traded higher by Rs 84, or 1.48%, to Rs 5,758 per quintal, with a turnover of 18,024 lots.

September turmeric rose by Rs 30, or 0.50%, to Rs 6,050 per quintal, with an open interest of 9,720 lots.

Marketmen said fresh positions created by speculators, driven by a pick up in demand and a decline in area under cultivation, influenced turmeric prices at futures trade.