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Turmeric futures rise on low-level buying

Hopes of adequate supplies caps gains

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Press Trust of India New Delhi
Last Updated : Jan 20 2013 | 3:24 AM IST

Turmeric prices in futures trade rose by Rs 24 to Rs 3,648 per quintal today, after speculators enlarged positions at existing levels.

However, increased arrivals in the spot markets following hopes of higher production capped gains for the spice.

At the National Commodity and Derivatives Exchange, turmeric for delivery in May rose by Rs 24, or 0.66%, to Rs 3,648 per quintal, with an open interest of 30,830 lots.

The June contract moved higher by Rs 22, or 0.59%, to Rs 3,752 per quintal in 15,197 lots.

Analysts attributed the rise in turmeric futures to low-level buying by speculators but increased supplies in the market and hopes of higher production in the year limited the gains.

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First Published: Apr 25 2012 | 11:58 AM IST

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