Turmeric gains 0.79% on rising demand
Tight supplies in physical market on lower arrivals from growing regions support upside
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Turmeric prices rose by 0.79 per cent to Rs 6,384 per quintal in futures trade today as speculators indulged in creating fresh positions amid rising domestic as well as export demand in the spot market.
Besides, tight supplies in the physical market following restricted arrivals from producing regions supported the upside.
At the National Commodity and Derivatives Exchange, turmeric for delivery in November traded higher by Rs 50, or 0.79 per cent, to Rs 6,384 per quintal with an open interest of 865 lots.
The December contract gained Rs 46, or 0.70 per cent, to Rs 6,610 per quintal in 9,290 lots.
Analysts said fresh positions built-up by speculators on the back of rising domestic and export demand in the spot market against tight supplies from producing belts mainly led to the rise in turmeric prices in futures trade.
Besides, tight supplies in the physical market following restricted arrivals from producing regions supported the upside.
At the National Commodity and Derivatives Exchange, turmeric for delivery in November traded higher by Rs 50, or 0.79 per cent, to Rs 6,384 per quintal with an open interest of 865 lots.
The December contract gained Rs 46, or 0.70 per cent, to Rs 6,610 per quintal in 9,290 lots.
Analysts said fresh positions built-up by speculators on the back of rising domestic and export demand in the spot market against tight supplies from producing belts mainly led to the rise in turmeric prices in futures trade.
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First Published: Nov 12 2014 | 12:15 PM IST