Turmeric futures rise 1.68% on uptick in demand

Turmeric prices were trading up by 1.68 per cent to close at Rs 7,022 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 in August was trading higher by Rs 116, or 1.68 per cent, to end at Rs 7,022 per quintal, with an open interest of 14,740 lots.
Similarly, the spice for delivery this month went up by Rs 102, or 1.50 per cent, to Rs 6,920 per quintal in 2,650 lots.

Analysts said continued 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.