Spot demand lifts turmeric futures by 3.05 pc

Turmeric prices surged by 3.05 per cent to Rs 7,226 per quintal in futures trading today as participants built up fresh positions, driven by upsurge in demand in the spot market.
At the National Commodity and Derivatives Exchange, turmeric for delivery in this month climbed by Rs 214, or 3.05 per cent, to Rs 7,226 per quintal, with an open interest of 795 lots.
Similarly, the spice for delivery in November edged up by Rs 92, or 1.28 per cent, to Rs 7,278 per quintal in 11,530 lots.
Analysts said fresh positions created by traders following uptick in demand in the spot market against restricted supplies from producing regions mainly pushed up turmeric prices at futures trade.