After hitting a three-year low in yesterday's trade, turmeric prices recovered by 1.62% to Rs 3,514 per quintal in futures trading today mostly supported by fresh demand at spot markets.
However, heavy arrivals from the producing regions of the new season crop following an estimated rise in output this year restricted the gains.
At the National Commodity and Derivatives Exchange, the April delivery moved up by Rs 56, or 1.62%, to Rs 3,514 per quintal with an open interest of 13,640 lots.
The May delivery gained Rs 54, or 1.52%, to Rs 3,596 per quintal in 24,470 lots. It dipped to Rs 3,528 in yesterday's trade, the lowest level since January 2009.
Traders attributed the recovery in turmeric futures prices to pick up in demand at the spot markets and covering-up of short positions by speculators.
