Turmeric prices rose by 2.68 per cent to Rs 7,730 per quintal in futures trade today after participants built up fresh positions on the back of pick-up in domestic and export demand.
Furthermore, reports that cultivation of the crop has been reduced and expectations of upsurge in country demand in the new season, boosted the uptrend.
In futures trading at the National Commodity and Derivatives Exchange, turmeric for delivery in April traded higher by Rs 202, or 2.68 per cent, to Rs 7,730 per quintal with an open interest of 9,140 lots.
The spice for delivery in May also increased by Rs 142, or 1.89 per cent, to Rs 7,638 per quintal, in an open interest of 45 lots.
Analysts said fresh positions created by participants following upsurge in domestic as well as export demand in the spot market against restricted supplies from producing regions, mainly pushed up turmeric prices at futures trade.
Disclaimer: No Business Standard Journalist was involved in creation of this content
