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This is an archive article published on September 12, 2012

Turmeric futures prices rise 2.36 on spot demand

Turmeric prices moved up by Rs 134 to Rs 5,800 per quintal in futures trading today.

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Turmeric prices moved up by Rs 134 to Rs 5,800 per quintal in futures trading today as speculators created fresh positions supported by a rise in demand in the spot market.

However,weak overseas enquires and improved rains in key producing regions limited the gains.

At the National Commodity and Derivatives Exchange,turmeric for delivery in October moved up by Rs 134,or 2.36 per cent,to Rs 5,800 per quintal,with an open interest of 18,395 lots.

Likewise,the spice for delivery in September gained Rs 50,or 0.84 per cent,to Rs 6,000 per quintal,with an open interest of 10,130 lots.

Marketmen said fresh positions created by speculators on the back of a rise in spot market demand mainly led to a rise in turmeric prices at futures trade.

 

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