Turmeric futures rise 1.71% on spot demand

Turmeric futures were trading higher by 1.71 per cent to close at Rs 7,360 per quintal on speculative buying driven by uptick in domestic and export demand in spot market.
At the National Commodity and Derivatives Exchange, turmeric for delivery in September was trading higher by Rs 124, or 1.71 per cent, to close at Rs 7,360 per quintal, with an open interest of 13,860 lots.
Similarly, the October contract of the spice increased by Rs 92, or 1.25 per cent, to end at Rs 7,436 per quintal, in an open interest of 1,735 lots.
Analysts said participants created fresh positions following upsurge in domestic and export demand in spot market against restricted supplies from producing regions.