Turmeric futures rise 2.68% on spot demand

Turmeric prices firmed up by Rs 382 to Rs 14,658 per quintal in futures trade today, as speculators indulged in creating positions, supported by a rise in demand in the spot market.

Lower arrivals from producing belts further fuelled the uptrend.

At the National Commodity and Derivatives Exchange counter, turmeric for December rose by Rs 382, or 2.68 per cent to Rs 14,658 per quintal, with an open interest of 3,880 lots.

Similarly, the spice for delivery in April-month edged up by Rs 70, or 0.74 per cent to Rs 9,482 per quintal, with a business turnover of 3,315 lots.

Marketmen said fresh buying by speculators on pick up in demand in the spot market mainly helped turmeric futures price to trade higher.