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Turmeric futures rise on lower supply

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Press Trust of India New Delhi

Turmeric prices rose by Rs 206 to Rs 12,642 per quintal in futures market today, as speculators enlarged their positions, supported by a pick up in local demand.

Lower supply in the spot market also influenced the trading sentiment.

At the National Commodity and Derivatives Exchange platform, turmeric for November-month rose by Rs 206, or 1.66 per cent to Rs 12,642 per quintal, with an open interest of 6,535 lots.

Similarly, the spice for delivery in October-month edged higher by Rs 180, or 1.31 per cent, to Rs 13,960 per quintal in 10,220 lots.

Analysts said firming trend at the physical markets on pick up in local demand against less arrivals mainly led to a rise in turmeric prices at futures trade here.

 

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First Published: Oct 01 2010 | 3:26 PM IST

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