Turmeric prices rose 1.73 per cent to Rs 7,980 per quintal in futures trade today as speculators covered up short positions amid firm physical demand.
Furthermore, reports that cultivation of the crop has been reduced and expectations of upsurge in demand in the new season boosted the uptrend.
In futures trading at the National Commodity and Derivatives Exchange, turmeric for delivery in April traded Rs 136, or 1.73 per cent, higher at Rs 7,980 per quintal with an open interest of 10,690 lots.
The spice for delivery in May also increased by Rs 122, or 1.55 per cent, to Rs 7,960 per quintal, with an open interest of 70 lots.
Analysts said fresh positions created by participants following upsurge in domestic as well as export demand in the spot market against restricted supplies from producing regions pushed up prices in futures trade.
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