Turmeric futures rise on firm spot demand

Turmeric futures prices rose by Rs 524 to Rs 16,300 per quintal today on fresh buying by traders, supported by local demand in view of the ongoing marriage season.

Restricted arrivals from producing regions also influenced trading sentiments.

At the National Commodity and Derivatives Exchange counter, turmeric for delivery in December surged by Rs 524, or 3.32 per cent to Rs 16,300 per quintal.

Similarly, the spice for delivery in April rose by Rs 302, or 3.34 per cent to Rs 9,610 per quintal.  

Analysts said fresh buying by traders, driven by rise in demand in the spot market mainly led to an upsurge in turmeric futures prices.