Turmeric futures gain 2.23 pc as demand picks up

NEW DELHI: Turmeric prices gained Rs 150 to Rs 6,864 per quintal in futures trading today on increased buying by speculators, driven by rising demand in the spot market for the upcoming festivals.

Fresh enquiries from overseas market further supported the uptrend in turmeric.

At the National Commodity and Derivatives Exchange, turmeric for delivery in September gained Rs 150, or 2.23 per cent, to Rs 6,864 per quintal, with an open interest of 14,555 lots.

Similarly, the spice for delivery in August traded higher by Rs 116, or 1.78 per cent, to Rs 6,632 per quintal, with an open interest of 15,230 lots.

Analysts attributed the rise in turmeric futures to rising domestic and overseas demand ahead of upcoming festivals.