Turmeric futures up on deficient rains

NEW DELHI: Turmeric prices gained Rs 38 to Rs 5,468 per quintal in futures market today as speculators enlarged their positions, triggered by low sowing due to deficient rains in key growing regions.

Market experts said slow progress of the monsoon, which may hit sowing operations and crop output this year, mainly improved the turmeric prices.

At the National Commodity and Derivatives Exchange, turmeric for delivery in September rose by Rs 38, or 0.70 per cent, to Rs 5,468 per quintal, with an open interest of 11,470 lots.

Similarly, the spice for delivery in August gained Rs 32, or 0.61 per cent, to Rs 5,310 per quintal in 19,740 lots.