Turmeric futures prices shot up by Rs 202 to Rs 8,700 per quintal today as speculators created fresh positions, driven by a rise in spot demand.
At the National Commodity and Derivatives Exchange, turmeric for delivery in May jumped up by Rs 202, or 2.38%, to Rs 8,700 per quintal, with an open interest of 2,255 lots.
Similarly, the spice for delivery in June moved up by Rs 112, or 1.39%, to Rs 8,198 per quintal, with a trade volume of 8,905 lots.
Analysts said fresh positions created by speculators, taking cues from pick up in demand at the spot markets, mainly influenced turmeric futures prices here, but supply pressure restricted the gains.
