Upsurge in demand lifts turmeric futures 1.99 pc

Turmeric prices shot up by 1.99 per cent to Rs 6,982 per quintal in futures market today as participants built up fresh positions following pick-up in demand in the spot market.
Besides, tight stocks position on fall in arrivals from major producing regions, supported the uptrend.
At the National Commodity and Derivatives Exchange, turmeric for delivery in December went up by Rs 136, or 1.99 per cent, to Rs 6,982 per quintal with an open interest of 7,410 lots.
Similarly, the spice for delivery in April traded higher by Rs 132, or 1.89 per cent, to Rs 7,120 per quintal in 2,655 lots.

Analysts said fresh positions created by participants due to uptick in demand in the physical market against restricted supplies from producing regions mainly led to the rise in turmeric prices at the futures trade.