Turmeric futures surges Rs 300 per quintal on tight supply

Turmeric futures rose by Rs 300 to Rs 8,706 per quintal on speculative buying triggered by tight supplies due to fall in arrivals from producing belts.
Besides, increased demand in the spot market further fuelled the uptrend.
At the National Commodity and Derivatives Exchange, turmeric for delivery in far-month May surged by Rs 300, or 3.56 per cenet to, Rs 8,706 per quintal with an open interest of 7,100 lots.
Similarly, the spice for delivery in April contracts shot up by Rs 294,or 3.49 per cent, to Rs 8,700 per quintal in 34,215 lots.
Analysts said speculators enlarged positions, triggered by tight supplies from producing belts amid increased demand in the spot market.