Turmeric futures rise 2.29% on spot demand

Turmeric prices soared 2.29 per cent to Rs 7,248 per quintal in futures trade Thursday as participants built up fresh positions on the back of pick-up in domestic and export demand.

On the National Commodity and Derivatives Exchange, turmeric for delivery in July rose by Rs 161, or 2.29 per cent, to Rs 7,248 per quintal with an open interest of 5,130 lots.

Turmeric for delivery in August surged by Rs 238, or 3.3 per cent, to Rs 7,452 per quintal in an open interest of 2,485 lots.

Marketmen said fresh positions created by participants, following upsurge in domestic as well as export demand, led to the increase in turmeric prices at futures trade here.