Turmeric rises 1.7% on spot demand

Weak export demand restricts gains

Turmeric prices rose by 1.69% to Rs 5,188 per quintal in futures trading today as speculators created fresh positions, driven by a rise in spot market demand amid restricted arrivals from producing belts.

Weak exports enquiries capped gains.

At the National Commodity and Derivatives Exchange, turmeric for delivery in December month rose by Rs 86, or 1.69%, to Rs 5,188 per quintal, with an open interest of 12,140 lots.

November turmeric traded higher by Rs 24, or 0.47%, to Rs 5,152 per quintal in 2,845 lots.

Marketmen said fresh positions created by speculators on the back of rising demand in the spot market supported the uptrend in turmeric futures but weak export enquiries restricted gains.