Turmeric futures surge 1.20 pc on spot demand

Turmeric prices increased by Rs 76 to close at Rs 6,428 per quintal in futures trade today as participants built up fresh positions, triggered by uptick in domestic as well export demand.
Fall in arrivals from the producing belts also added support to turmeric prices' uptrend.
At the National Commodity and Derivatives Exchange, turmeric for delivery in April increased by Rs 76, or 1.20 per cent, to close at Rs 6,428 per quintal with an open interest of 10,835 lots.
Similarly, the spice for delivery in May higher shot up by Rs 74, or 1.15 per cent to end at Rs 6,516 per quintal in 7,660 lots.

Analysts said, fresh 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.