Turmeric futures up 3.33% on spot demand

NEW DELHI: Turmeric prices rose by Rs 140 to Rs 4,346 per quintal in futures market today, as speculators created fresh positions, driven by pick-up in spot demand.

Fresh overseas inquiries also supported the rise in the turmeric prices.

At the National Commodity and Derivatives Exchange, turmeric for delivery in May moved up by Rs 140, or 3.33 per cent, to Rs 4,346 per quintal, with an open interest of 15,075 lots.

Similarly, the spice for delivery in April edged higher by Rs 134, or 3.21 per cent, to Rs 4,310 per quintal, with open interest of 19,540 lots.

Analysts said apart from pick-up in demand in the spot market, fresh enquiries from overseas mainly led to rise in turmeric prices at futures trade.