Turmeric futures rise 1.44% on spot demand

Turmeric prices rose 1.44 per cent to Rs 7,290 per quintal in futures trade today after participants built up fresh positions on the back of pick-up in domestic and export demand.
Besides, restricted supplies from producing regions and tight stock levels boosted the rates.
At the National Commodity and Derivatives Exchange, turmeric for delivery in April contracts traded higher by Rs 104, or 1.44 per cent, at Rs 7,290 per quintal with an open interest of 10,875 lots.
The spice for delivery in May contracts increased Rs 100, or 1.37 per cent, to Rs 7,390 per quintal, with an open interest of 1,005 lots.

Analysts said fresh positions created by participants following upsurge in domestic as well as export demand in the spot market against restricted supplies from producing regions pushed turmeric prices.