Turmeric prices shot up by Rs 304, or 2.32 per cent, to Rs 13,416 per quintal in futures trade today, as speculators enlarged their positions, taking cues from a firming trend at physical markets.
However, higher sowing of the spice in key cultivating regions, capped gains.
At the National Commodity and Derivatives Exchange (NCDEX) counter, turmeric for delivery in October climbed by Rs 304, or 2.32 per cent, to Rs 13,416 per quintal, with an open interest of 8,805 lots.
Similarly, the spice for delivery in December-month moved up by Rs 292, or 2.42 per cent, to Rs 12,360 per quintal, with an open interest of 620 lots, while delivery in November contract was up by Rs 76, or 0.60 per cent, to Rs 12,800 per quintal, with a turnover of 6,025 lots.
Analysts said besides firming trend at the physical markets on pick up in demand, poor supplies and export enquiries also supported the rise in turmeric prices at futures market here.
