Turmeric prices recovered by Rs 71 or 0.51 per cent to Rs 14,103 per quintal in futures trade, on covering up of short positions by speculators.
However, hopes of normal monsoon rains and slack demand at spot markets, capped gains in futures trade.
At the National Commodity and Derivatives Exchange, turmeric for delivery in August contract traded Rs 71, or 0.51 per cent higher at Rs 14,103 per quintal, with an open interest of 1,370 lots.
Similarly, the spice for delivery in June also traded higher by Rs 28, or 0.19 per cent at Rs 14,600 per quintal, with an open interest of 9,700 lots.
At Nizamabad, a major spot market in Andhra Pradesh, turmeric traded lower at Rs 14,680 per quintal in the previous session.
Analysts attributed the recovery in turmeric prices at futures market to covering up of short positions by speculators, but expectations of normal monsoon rains at the producing regions and sluggish demand at spot markets restricted gains.
