Turmeric futures trade higher on spot demand

NEW DELHI: Turmeric prices rose by Rs 52 to Rs 5,250 per quintal in futures trading today as speculators created fresh positions after an improvement in demand in the spot market even as overseas enquiries remained weak.

At the National Commodity and Derivatives Exchange, turmeric for delivery in November rose by Rs 52, or 1 per cent, to Rs 5,250 per quintal, with an open interest of 14,945 lots.

Similarly, the spice for delivery in October traded higher by Rs 26, or 0.50 per cent, to Rs 5,200 per quintal, with an open interest of 1,315 lots.

Marketmen said fresh positions created by speculators on the back of a rise in spot market demand, but lack of overseas enquiries restricted the gain at futures trade.