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Turmeric rises 0.33% spot demand, poor supply

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Press Trust of India New Delhi
Last Updated : Jan 21 2013 | 5:24 AM IST

Turmeric prices rose by 0.33 per cent, to Rs 11,450 per 100 kg in futures trade, as speculators enlarged their positions, driven by pick up in demand ahead of festive season.

At the National Commodity and Derivatives Exchange counter, turmeric for delivery in December traded higher by Rs 38, or 0.33 per cent, to Rs 11,450 per 100 kg, with an open interest of 880 lots.

The spice for delivery in November contract edged up by Rs 22, or 0.18 per cent, to Rs 12,370 per 100 kg, with an open interest of 7,625 lots.
    
Meanwhile, in Nizamabad, a key spot market in Andhra Pradesh, turmeric gained Rs 23 to Rs 14,595 per quintal.
    
Analysts said besides doemstic demand, tight stocks following lower supplies in spot markets, mainly influenced the turmeric futures prices here.

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First Published: Oct 05 2010 | 4:56 PM IST

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