Turmeric futures rise 1.54 pc on uptick in demand

Turmeric prices ended higher by 1.54 per cent to Rs 6,476 per quintal in futures trade today as participants built up fresh positions, triggered by uptick in domestic as well export demand in the spot market.
Further, anticipation of lower acreage during the current season in producing regions also added support to uptrend in turmeric prices.
At the National Commodity and Derivatives Exchange, turmeric for delivery this month was trading higher by Rs 98, or 1.54 per cent, to end at Rs 6,476 per quintal, with an open interest of 11,975 lots.
Similarly, the spice for delivery in August increased by Rs 70, or 1.08 per cent, to close at Rs 6,546 per quintal in 4,125 lots.

Analysts said, fresh positions created by traders 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.