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Turmeric futures up on pick-up in demand

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Press Trust of India New Delhi

Turmeric prices rose by 1.69% to Rs 7,704 per quintal in futures trade today as traders enlarged their positions, driven by pick-up in demand at lower levels at spot markets. 

At the National Commodity and Derivatives Exchange, turmeric for September delivery moved up by Rs 128, or 1.69%, to Rs 7,704 per quintal, with an open interest for 6,060 lots.

Similarly, the spice for August delivery edged up by Rs 40, or 0.53%, to Rs 7,606 per quintal, with an open interest of 6,835 lots. It had closed 2.54% higher at Rs 7,566 per quintal yesterday. 

Market analysts said increased buying by traders at prevailing levels at the spot markets, mainly influenced turmeric futures prices.

 

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First Published: Jul 27 2011 | 2:41 PM IST

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