Turmeric futures rise 2.87% on demand uptick

Turmeric prices went higher by 2.87 per cent to close at Rs 7,240 per quintal in futures trade today on fresh positions, triggered by uptick in local as well export demand.
Sowing progress and monsoon rains in Telangana and Karnataka had a bearing on the price movement.
At the National Commodity and Derivatives Exchange, turmeric for delivery in August contract was trading higher by Rs 202, or 2.87 per cent, to close at Rs 7,240 per quintal, with an open interest of 5,115 lots.
Similarly, the contract for September delivery was trading up by Rs 194, or 2.72 per cent, to end at Rs 7,322 per quintal in 16,280 lots.

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