Turmeric futures extend gains by 3.72 pc on spot demand

Turmeric prices went up further by 3.72 per cent to close at Rs 6,860 per quintal in futures trade today on account of uptick in domestic as well export demand in the spot market.
Besides, restricted supplies and slow pace of sowing in producing states also added support to turmeric prices uptrend.
At the National Commodity and Derivatives Exchange, turmeric for delivery this month was trading higher by Rs 246, or 3.72 per cent, to end at Rs 6,860 per quintal, with an open interest of 4,895 lots.
Similarly, the spice for delivery in August went up by Rs 248, or 3.71 per cent, to Rs 6,936 per quintal in 12,355 lots.

Analysts said fresh positions built up by participants following upsurge in domestic as well as export demand in the spot market against restricted supplies from producing regions mainly pushed up turmeric prices at futures trade.