Turmeric futures remain up on rising demand, tight supply

Continuing its rising streak, turmeric prices rose further by 1.67 per cent to Rs 9,008 per quintal in futures trade today as speculators indulged in enlarging positions, tracking a firm trend at spot market on rising demand.

Besides, tight stocks position in the physical market on fall in arrivals from producing supported the uptrend.

At the National Commodity and Derivatives Exchange, turmeric for delivery in far-month May advanced by Rs 148, or 1.67 per cent to Rs 9,008 per quintal with an open interest of 7,700 lots.

Similarly, the spice for delivery in April contracts gained Rs 136, or 1.55 per cent to Rs 8,896 per quintal in 33,760 lots.
 

Analysts said apart from rising demand in the spot market, tight supplies from producing belts kept turmeric prices higher at futures trade.