Turmeric prices went up by 2.53% to Rs 5,016 per quintal as speculators engaged in creating positions as speculators enlarged their positions driven by deficient rains in key growing regions.
Also, fall in supplies in the spot markets also influenced the prices.
At the National Commodity and Derivatives Exchange, turmeric for delivery in August traded Rs 124, or 2.53%, higher at Rs 5,016 per quintal, with an open interest of 21,730 lots.
The July contract shot up by Rs 80, or 1.69%, to Rs 4,800 per quintal, with an open interest of 1,145 lots.
Analysts said persistent rise in turmeric futures was mostly due to speculative positions built-up by participants, driven by deficient rains in key growing regions which may push back sowing operations, hurting the yield and the output.
