Turmeric rises 1% on uptick in demand

NEW DELHI, June 22: Turmeric prices were up by 1.06 per cent to Rs 7,386 per quintal in futures trading today as participants built up fresh positions, driven by uptick in domestic and export demand.

Besides, restricted supplies from producing regions also supported the upward movement of turmeric prices.

At the National Commodity and Derivatives Exchange, turmeric for delivery in July was trading higher by Rs 78, or 1.06 per cent, to Rs 7,386 per quintal with an open interest of 13,335 lots.

The spice for delivery in far-month August also increased by Rs 56, or 0.75 per cent, was trading at Rs 7,454 per quintal, in an open interest of 7,725 lots.

Analysts said fresh positions created by participants following upsurge in domestic as well as export demand at the spot market against restricted supplies from producing regions pushed up turmeric prices in futures trade. (PTI)