Turmeric futures rise

Turmeric futures prices rose by 1.33 per cent to Rs 9,780 per quintal on Friday despite rising arrivals in the spot market from the new crop and sluggish export demand.

At the National Commodity and Derivatives Exchange, turmeric prices for delivery in far month June rose Rs 128, or 1.33 per cent, to Rs 9,780 per quintal, with an open interest of 1,765 lots.

The spice for delivery in April gained Rs 32, or 0.32 per cent, to Rs 10,088 per quintal, with an open interest of 5,885 lots.

Traders said the rise in turmeric prices at futures trade was mostly attributed to better demand at the spot market and covering up of short positions, but weak export demand and increased arrivals in local markets capped gains.