Turmeric up on spot demand

Turmeric prices rose by Rs 130 to Rs 5,700 per quintal in futures trading today as speculators indulged in covering-up short positions amid fresh demand in the spot markets.

At the National Commodity and Derivatives Exchange, the May contract rose by Rs 130, or 2.33%, to Rs 5,700 per quintal, with an open interest of 1,630 lots.

The December contract traded higher by Rs 56, or 1.10%, to Rs 5,136 per quintal, with an open interest of 17,355 lots.

Marketmen said covering-up of pending short positions by speculators and rising demand in the spot markets helped turmeric futures to trade higher but higher stocks positions limited the gains.