Turmeric futures up on spot demand

NEW DELHI: Turmeric prices rose by Rs 138 to Rs 5,216 per quintal in futures trade today as speculators created fresh positions, driven by a rise in spot demand.

Some export inquiries also supported the uptrend in turmeric futures prices.

At the National Commodity and Derivative Exchange, turmeric for delivery in December gained Rs 138, or 2.72 per cent, to Rs 5,216 per quintal, with an open interest of 15,370 lots.

Likewise, the spice for delivery in November traded higher by Rs 82, or 1.59 per cent, to Rs 5,236 per quintal, with a trade volume of 6,615 lots.

Market analysts said fresh buying by speculators, following mild demand in the spot market and some overseas enquiries mainly helped turmeric prices to trade higher in the futures market.