Turmeric up 1.4% on uptick in demand

Speculators build positions on higher offtake in spot market

Turmeric prices were up by Rs 114 to Rs 8,130 per quintal in futures market today on emergence of buying by traders, driven by rising demand in the spot market.

At the National Commodity and Derivatives Exchange, turmeric for delivery in November rose Rs 114, or 1.42 per cent, to Rs 8,130 per quintal with an open interest of 10,090 lots.

The October contract gained Rs 104, or 1.35 per cent, to Rs 7,800 per quintal in 16,155 lots.

Analysts said pick up in demand at the spot market, mainly helped the turmeric prices to rise.