Turmeric futures up 1.46% on rising demand

NEW DELHI: Turmeric prices were up by 1.46 per cent to Rs 7,934 per quintal in futures trade today after participants created fresh positions, largely driven by pick up in domestic demand and restricted supplies from producing regions.

Further, some export enquiries supported the upside in turmeric prices.

At the National Commodity and Derivatives Exchange, turmeric for delivery in October surged Rs 114, or 1.46 per cent, to Rs 7,934 per quintal with an open interest of 26,675 lots.

Similarly, the spice for delivery in November traded higher by Rs 112, or 1.38 per cent to Rs 8,218 per quintal in 2,555 lots.

Market analysts said apart from a pick up in demand in the spot market, restricted supplies from producing belts led to rise in turmeric prices at the futures trade.