Turmeric prices up by 0.95 percent Jeera by 0.63 percent

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Turmeric prices up by 0.95 percent Jeera by 0.63 percent

Turmeric prices were trading up by 0.95 percent to Rs 6,790 per quintal in futures trade as participants built up fresh positions, mainly driven by an uptick in domestic and export 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 December was trading higher by Rs 64, or 0.95 percent, to Rs 6,790 per quintal with an open interest of 1,685 lots.

Similarly, the spice for delivery in December increased by Rs 40, or 0.59 percent, to Rs 6,830 per quintal, in an open interest of 3,730 lots.

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

Whereas Jeera prices rose by 0.63 percent to Rs 19,885 per quintal in futures trade as speculators engaged in trimming positions to booked profits at prevailing levels amid lower domestic and exports demand at the spot markets.

In futures trading, at the National Commodity and Derivatives Exchange, jeera for delivery in November was trading lower by Rs 125, or 0.63 percent, to Rs 19,885 per quintal.

Similarly, the spice for delivery in December was quoting lower by Rs 95, or 0.47 percent to Rs 20,220 per quintal.

Analysts said, trimming of positions by participants on the back of easing domestic as well as exports demand at spot market against adequate stocks position, mainly kept jeera prices down at futures trade.

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