Turmeric futures prices today recovered by 1.07% to Rs 6,068 per quintal as speculators created positions driven by thin supplies in the spot markets amid a decline in area under cultivation.
At the National Commodity and Derivatives Exchange, turmeric for delivery in September rose by Rs 64, or 1.07%, to Rs 6,068 per quintal, with an open interest of 13,570 lots.
October turmeric was up by Rs 40, or 0.66% to Rs 6,056 per quintal, with an open interest of 16,855 lots.
Marketmen said the rise in turmeric futures was due to fresh positions created by speculators, following thin supplies in the spot markets as farmers held back stocks in anticipation of a rise in prices in the coming days.
Besides, a decline in area under cultivation also influenced prices, they said.
