Turmeric futures extend gain, up 1.75% on rising demand

Extending gains for the second straight day, turmeric prices advanced 1.75 per cent to Rs 9,210 per quintal in futures trade today after participants increased their bets, tracking a firm trend at spot market on rising demand.
Further, some export enquiries and fall in supplies from producing regions supported the upside in turmeric prices.
At the National Commodity and Derivatives Exchange, turmeric for delivery in December rose by Rs 158 or 1.75 per cent to Rs 9,210 per quintal with an open interest of 5,930 lots.
Similarly, the spice for delivery in November traded higher by Rs 148, or 1.69 per cent to Rs 8,930 per quintal in 20,345 lots.

Analysts said besides rising demand at the spot market, restricted supplies from producing regions mainly kept turmeric prices higher at futures trade.