Turmeric futures edge higher on pick up in demand

Turmeric prices ended higher by 2.15 per cent to Rs 7,132 per quintal in futures trade today as participants built up fresh positions, triggered by pick up in domestic as well export demand at the spot market.
At the National Commodity and Derivatives Exchange, turmeric for delivery in September was trading higher by Rs 150, or 2.15 per cent, to close at Rs 7,132 per quintal, with an open interest of 4,495 lots.
Similarly, the spice for delivery in August increased by Rs 124, or 1.79 per cent, to end at Rs 7,048 per quintal in 11,400 lots.
Analysts said fresh positions created by traders following an upsurge in domestic as well as export demand in the spot market against restricted supplies from producing regions, mainly pushed up turmeric prices at the futures trade.