Monday, November 29, 1999

Turmeric futures gain on overseas demand

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New Delhi, June 18 (PTI) Turmeric futures prices moved up by Rs 76, or 0.52 per cent, to Rs 0.52 per quintal today, as traders enlarged their positions, driven by pick up in spot as well as overseas demand. Limited arrivals in the physical market fuelled the uptrend. At the National Commodity and Derivatives Exchange, turmeric for delivery in August contract rose Rs 76, or 0.52 per cent to Rs 14,660 per quintal, with an open interest of 1,500 lots. Similarly, the spice for delivery in July contract moved up by Rs 48, or 0.32 per cent, to Rs 14,850 per quintal, with a business turnover of 8,530 lots. However, the current-month June contract lost Rs 26, or 0.17 per cent, to Rs 15,124 per quintal, with a business turnover of 4,770 lots. Analysts attributed the rise in turmeric prices at futures market to overseas and domestic demand against less arrivals at physical markets.

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