Turmeric leads gain in spices

NEW DELHI: Spices, led by Turmeric, gained in futures trade on Monday on sustained buying by traders and speculators amid restricted supplies from producing areas.

On the National Commodity and Derivatives Exchange, turmeric hit its upper limit of three per cent to trade at Rs 4,834 per quintal in trading of 7,250 lots, followed by jeera, whose May contract rose 1.34 per cent to Rs 11,913 per quintal in trading of 1,845 lots.

Jeera for March contract inched up by 0.78 per cent to Rs 11,570 per quintal in trading of 6,336 lots. Chilli for April-month contract moved up by 1.16 per cent to Rs 5,561 per quintal with trading volume of 125 lots and March contract rose by one p er cent to Rs 5,391 with a trading volume of 60 lots.

In line with a firming general trend, pepper also showed improvement and its April contract gained 0.75 per cent to Rs 10,685 per quintal in a turnover of 739 lots, while its March contract added 0.65 per cent to Rs 10,485 a quintal, clocking a business volume of 249 lots.

The fresh rise in spices was mostly attributed to the increased demand in the spot markets and fresh export enquiries, traders said.

Source: http://www.thehindubusinessline.com/