Turmeric prices shot up by 3.40 per cent to Rs 8,648 per quintal in futures trading today as speculators enlarged position, driven by tight supplies from producing regions at spot market amid pick up in demand.
At the National Commodity and Derivatives Exchange, turmeric for delivery in May month jumped up by Rs 284, or 3.40 per cent to Rs 8,648 per quintal with an open interest of 26,075 lots.
In a similar fashion, the spice for delivery in April contracts traded higher by Rs 224 or 2.73 per cent to Rs 8,416 per quintal in 1,005 lots.
Market analysts said besides tight supplies from producing belts, pick up in demand, mainly attributed the upsurge in turmeric prices at futures trade.
