Spot demand lifts turmeric futures by 3.68%

Turmeric prices surged by 3.68 per cent to Rs 7,158 per quintal in futures trading today as participants built up fresh positions, driven by upsurge in demand in the spot market.
Besides, tight stocks position on restricted supplies from producing regions supported the upside.
At the National Commodity and Derivatives Exchange, turmeric for delivery in October month climbed by Rs 254, or 3.68 per cent to Rs 7,158 per quintal with an open interest of 13,115 lots.
Similarly, the spice for delivery in far-month November contracts shot up by Rs 204, or 2.92 per cent to Rs 7,190 per quintal in 7,920 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 the turmeric prices at futures trade.