Turmeric futures hit upper limit, rise 4.01%

Turmeric futures prices shot up by Rs 532 to Rs 13,792 per quintal today traders created fresh positions, supported by local demand to encash on the ongoing marriage season. 

Restricted arrivals from producing regions also influenced trading sentiments.

At the National Commodity and Derivatives Exchange counter, turmeric for December delivery surged by Rs 532, or 4.01 per cent to Rs 13,792 per quintal, with an open interest of 4,070 lots.

Similarly, the spice for delivery in April rose by Rs 288, or 3.36 per cent to Rs 8,848 per quintal, with a trade volume of 1,535 lots.

Marketmen said fresh buying by traders, driven by rise in demand in the spot market led to an upsurge in turmeric futures prices.