Turmeric up 0.6% on short-covering, spot demand

Adequate stocks in the market cap gains

Amid covering-up of short positions by speculators and pick up in spot market demand, turmeric prices recovered by Rs 32 to Rs 5,000 per quintal in futures trading today.

At the National Commodity and Derivatives Exchange, turmeric for delivery in December rose by Rs 32, or 0.64%, to Rs 5,000 per quintal, with an open interest of 9,820 lots.

November turmeric traded higher by Rs 4, or 0.08%, to Rs 5,026 per quintal, with an open interest of 14,785 lots.

Marketmen said covering-up of positions at prevailing levels by speculators and a pick up in spot demand helped turmeric futures to trade higher. Adequate stocks in the market capped the gains.