Turmeric futures prices surged from Rs 84 to Rs 10,170 per quintal today, as speculators built up huge positions, driven by shot supplies in the spot markets.
At the National Commodity and Derivatives Exchange counter, turmeric for delivery in April surged by Rs 84, or 0.83 per cent to Rs 10,170 per quintal, with an open interest of 4,015 lots.
Similarly, the spice for delivery in May rose by Rs 70, or 0.72 per cent to Rs 9,798 per quintal, with an open interest of 945 lots
"Speculators created positions, amid less availability of stocks in the market influenced the turmeric futures prices," said an analyst.
Market analysts attributed the rise in turmeric futures to short supplies in the market, amid delay in fresh arrivals due to unseasonal rains at producing centres.
