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Turmeric up on pick-up in spot demand

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Press Trust of India New Delhi
Last Updated : Jan 20 2013 | 3:11 AM IST

Turmeric futures today shot up by 1.45% to Rs  4,348 per quintal, mostly supported by a pick-up in spot demand.

However, expectations a bumper crop, capped the gains.

At the National Commodity and Derivatives Exchange, the April turmeric gained Rs 62, or 1.45%, to Rs 4,358 per quintal, with an open interest of 19,200 lots.

The May delivery edged up by Rs 50, or 1.15%, to Rs 4,390 per quintal, with an open interest of 15,480 lots.

Market analysts attributed the rise in turmeric futures to pick-up in demand in the spot market, increased supplies amid expectations of a bumper crop, restricted the gains.

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First Published: Mar 23 2012 | 12:05 PM IST

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