Turmeric futures up 1.2 pc on thin supply, firm demand

NEW DELHI: Turmeric prices rose 1.20 per cent to Rs 6,900 per quintal in futures trading today as participants created speculative positions triggered by thin supplies from producing regions.

Reports of lower output this season further supported the uptrend.

At the National Commodity and Derivatives Exchange, turmeric for delivery in April gained Rs 82, or 1.20 per cent to Rs 6,900 per quintal with an open interest of 1010 lots.

Similarly, the spice for delivery in May gained Rs 74, or 1.06 per cent to Rs 7076 per quintal in 27,335 lots.

Analysts said tight supplies from producing regions in the physical markets, as farmers held back stocks on expectations of rise in prices in coming months amid strong demand, mainly led an upward movements in turmeric prices at futures trade.