Uptick in demand lifts turmeric by 1.44%

Traders strengthened positions as tight supplies from producing belts support uptrend

Turmeric futures surged 1.44 per cent to Rs 9,268 per quintal in futures market today as traders strengthened their positions on the back of rising demand in the spot market.

At the National Commodity and Derivatives Exchange, turmeric for delivery in November spurted by Rs 132, or 1.44 per cent, to Rs 9,268 per quintal with an open interest of 7,535 lots.

The December contract shot up by Rs 132, or 1.41 per cent, to Rs 9,516 per quintal in 18,545 lots.

Analysts attributed the sharp rise in turmeric futures to strong demand in the spot market amid tight supplies from producing belts.