Turmeric prices strengthened by Rs 234 or 1.62 per cent to Rs 14,680 per quintal in futures trading today, as speculators created fresh positions, driven by pick up in demand at spot markets.
Lower arrivals and exports demand also influenced the trading sentiment. At the National Commodity and Derivatives Exchange, turmeric for delivery in August contract surged by Rs 234, or 1.62 per cent to Rs 14,680 per quintal, with an open interest of 1,530 lots.
Similarly, the spice for delivery in June contract spurted by Rs 200, or 1.32 per cent to Rs 15,402, with a business turnover of 5,310 lots.
Analysts said the rise in turmeric prices at futures trade was due to low stocks in the market, tight supply and pick up in demand at futures trade.