Turmeric futures rise 3.09 pc on firm demand

Turmeric prices rose 3.09 per cent to close at Rs 7,332 per quintal in futures trade today after participants built up fresh positions on the back of pick-up in domestic and export demand.
Meanwhile, reports on low crop yield this season due to absence of rain on time also boosted the rates.
At the National Commodity and Derivatives Exchange, turmeric for delivery in April traded higher by Rs 220, or 3.09 per cent, to close at Rs 7,332 per quintal with an open interest of 10,975 lots.
The spice for delivery in May also increased by Rs 212, or 2.95 per cent, to end at Rs 7,406 per quintal, in an open interest of 1,465 lots.

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