Buoyed by pick up in buying at spot markets amid falling stocks, turmeric prices gained by Rs 544, or 4.01 per cent, to hit the upper circuit at Rs 14,106 per 100 kg in futures trade today.
However, higher sowing of the spice and favourable weather in key cultivating regions, capped gains.
At the National Commodity and Derivatives Exchange (NCDEX) counter, turmeric for delivery in August climbed Rs 544, or 4.01 per cent, to Rs 14,106 per 100 kg, with an open interest of 6,640 lots.
Similarly, the spice for delivery in September traded higher by Rs 294, or 2.23 per cent, to Rs 13,462 per 100 kg, with a business volume of 4,860 lots. It ended 1.42 per cent lower at Rs 13,168 per 100 kg in the previous session.
Analysts said strong demand at physical markets and lower stocks mainly influenced the turmeric futures prices but higher sowing and favourable weather in key cultivating areas, which raised hopes of good output, limited gains.
