Turmeric prices trade up by 0.21 percent to Rs. 4870 per quintal in futures

Turmeric prices were trading up by 0.21 per cent to Rs 4,870 per quintal in futures trade Thursday as participants built up fresh positions, mainly driven by an uptick in domestic demand in the spot market.

Besides, limited arrivals from major producing regions fuelled the uptrend. At the National Commodity and Derivatives Exchange, turmeric for delivery in the current month was trading higher by Rs 10, or 0.21 per cent, to Rs 4,870 per quintal with an open interest of 16,670 lots.

Similarly, the spice for delivery in November increased by Rs 10, or 0.20 per cent, to Rs 5,027 per quintal, in an open interest of 12,850 lots.

Analysts said fresh positions created by participants following the jump in domestic demand in the spot market against restricted supplies from producing regions mainly pushed up turmeric prices in futures trade.

(With inputs from agencies.)