Turmeric futures surge 1.99 pc on spot demand

Turmeric prices were trading up by 1.99 per cent to close at Rs 6,036 per quintal in futures trade today as participants built up fresh positions, mainly driven by uptick in domestic and export demand in spot market.
At the National Commodity and Derivatives Exchange, turmeric for delivery in July was trading higher by Rs 118, or 1.99 per cent, to close at Rs 6,036 per quintal with an open interest of 14,405 lots.
Similarly, the spice for delivery in August increased by Rs 100, or 1.67 per cent, to end at Rs 6,101 per quintal, in an open interest of 1,870 lots.

Analysts said fresh positions created by participants 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.