Turmeric prices rose by Rs 200, or 1.65 per cent, to Rs 11,940 per 100 kg in futures trade today after speculators created fresh positions, driven by low stock availability in the spot market.
At the National Commodity and Derivatives Exchange (NCDEX) counter, turmeric for September delivery was being traded higher by Rs 200, or 1.65 per cent, at Rs 11,940 per 100 kg, with an open interest of 4,515 lots.
The spice for October contract delivery also gained Rs 164, or 1.33 per cent, to Rs 12,126 per 100 kg, with an open interest of 6,025 lots.
Meanwhile, in Nizamabad, a major spot market, turmeric prices held steady at Rs 13,639 per 100 kg in yesterday's session.
Analysts said strong demand and export enquiries influenced turmeric futures here, but estimates of higher output due to an increase in the area under cultivation with the spice restricted the gains.
