Turmeric futures rise 0.83% on spot market demand

NEW DELHI: Turmeric prices rose by Rs 32 to Rs 3,882 per quintal in futures trade today as speculators created fresh positions on pick-up in spot market demand.

At the National Commodity and Derivatives Exchange, turmeric for delivery in July moved up by Rs 32, or 0.83 per cent, to Rs 3,882 per quintal in an open interest of 39,250 lots.

Likewise, the spice for delivery in the June contract edged up by Rs 10, or 0.27 per cent, to Rs 3,690 per quintal in 805 lots.

Analysts said the rise in turmeric futures was mainly due to pick up in demand in the spot markets but weak export demand limited the gain.