Turmeric futures gain 1.26% on spot demand

Turmeric prices surged by 1.26 per cent to Rs 7,698 per quintal in futures market today as speculators built up fresh positions amid pick up in demand in the spot market.
Besides, restricted supplies from producing regions fuelled the uptrend.
At the National Commodity and Derivatives Exchange, turmeric for delivery in September rose by Rs 96, or 1.26 per cent, to Rs 7,698 per quintal with an open interest of 1,090 lots.
Similarly, the contract for October was trading higher by Rs 80, or 1.05 per cent, to Rs 7,730 per quintal in 12,010 lots.
Analysts said participants created fresh positions, driven by uptick in demand in the spot market, mainly influenced turmeric prices at futures trade.