Turmeric futures rise 3.98% on uptick in demand

Turmeric prices were trading up by 3.98 per cent to close at Rs 7,520 per quintal in futures trade today on account of uptick in domestic as well as export demand at the spot market.
Besides, inadequate showers in the main growing regions and expectation of lower acreage for sowing have pushed turmeric prices.
At the National Commodity and Derivatives Exchange, turmeric for delivery in August was trading higher by Rs 288, or 3.98 per cent, to close at Rs 7,520 per quintal, with an open interest of 16,080 lots.
Similarly, the spice for delivery in current month increased by Rs 144, or 1.98 per cent, to end at Rs 7,434 per quintal in 495 lots.

Analysts said fresh positions created by traders following an 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.