Turmeric futures rise on better spot demand

Turmeric prices rose by Rs 196 to Rs 9,688 per quintal in futures trading today, as speculators enlarged their positions on pick up in spot market demand in view of marriage season.

At the National Commodity and Derivatives Exchange platform, turmeric for delivery in April-month rose by Rs 196, or 2.06 per cent to Rs 9,688 per quintal, with an open interest of 2,975 lots.

Similarly, the spice for delivery in December moved up by Rs 164, or 1.10 per cent to Rs 15,018 per quintal, with a business turnover of 5,340 lots.

Analysts said speculators enlarged their positions on pick up in demand at the spot market following ongoing marriage season pushed up turmeric prices at futures trade.