Turmeric futures surge 1.24 pc on spot demand

Turmeric prices were trading up by 1.24 per cent to Rs 7,000 per quintal in futures trade today as participants built up fresh positions, mainly driven by uptick in domestic and export demand in the spot market.
Besides, limited arrivals from major producing regions fuelled the uptrend.
At the National Commodity and Derivatives Exchange, turmeric for delivery in the current month was trading higher by Rs 86, or 1.24 per cent, to Rs 7,000 per quintal with an open interest of 1,020 lots.
Similarly, the spice for delivery in December increased by Rs 48, or 0.69 per cent, to Rs 7,048 per quintal, in an open interest of 7,010 lots.

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