Turmeric futures rise 1% as demand picks up

Turmeric prices were up by 1 per cent to Rs 6,490 per quintal in futures trade today as participants built up fresh positions following uptick in demand in the spot market.

At the National Commodity and Derivatives Exchange, turmeric for delivery in May rose by Rs 64, or 1 per cent, to Rs 6,490 per quintal with an open interest of 11,440 lots.

Similarly, the spice for delivery in April contract was trading higher by Rs 48, or 0.76 per cent, to Rs 6,390 per quintal in 3,955 lots.

Analysts said fresh positions created by traders due to rise in demand in the spot market amid pause in supplies from producing regions influenced turmeric prices in futures trade.