Turmeric futures rise 0.54% as demand picks up

Turmeric prices gained 0.54 per cent to Rs 8,260 per quintal in futures market today amid pick up in demand in spot markets.

Turmeric for delivery in June rose by Rs 44, or 0.54 per cent, to Rs 8260 per quintal with an open interest of 34,195 lots at the National Commodity and Derivatives Exchange.

Also, the spice for delivery in May edged up by Rs 24, or 0.29 per cent, to Rs 8,234 per quintal in 645 lots.

Market analysts said the rise in turmeric prices at futures trade was mostly on the back of pick-up in demand in the spot market against restricted supplies from producing belts.