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Turmeric futures edge higher on spot demand

Press Trust of India  |  New Delhi 

Turmeric prices were trading

up by Rs 20 to Rs 6,670 per quintal in futures trade Monday as participants built up fresh positions, mainly driven by uptick in domestic demand at the spot market.

At the National Commodity and Derivatives Exchange, turmeric for delivery in December was trading higher by Rs 20, or 0.30 per cent, to Rs 6,670 per quintal with an open interest of 7,770 lots.

Similarly, the spice for delivery in November increased by Rs 16, or 0.24 per cent, to Rs 6,630 per quintal, with an open interest of 8,360 lots.

Analysts attributed the rise in turmeric prices at futures trade to building up of positions by speculators, driven by rising demand at the spot markets against restricted supplies from producing regions.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, November 05 2018. 11:10 IST