Turmeric futures prices today surged by 3.3% to Rs 5,700 per quintal as speculators indulged in creating positions at lower levels amid deficient rainfall in the growing regions.
At the National Commodity and Derivatives Exchange, turmeric for delivery in August surged by Rs 182, or 3.30%, to Rs 5,700 per quintal, with an open interest of 165 lots.
Marketmen said the rise in turmeric futures was mostly due to fresh positions created by speculators at lower levels amid speculation of a decline in the area under cultivation and deficient rains in the key growing areas.
Meanwhile, turmeric prices at futures trade have gone up by over 40% in July.
