Turmeric prices rose sharply by 0.4 per cent to Rs 6,478 per quintal in futures trade Thursday as participants raised their positions, driven by pick up in demand at the spot market.
At the National Commodity and Derivatives Exchange, turmeric for April moved up by Rs 24, or 0.4 per cent, to Rs 6,478 per quintal with an open interest of 10,460 lots.
The spice for June contracts, however, slipped by Rs 56, or 0.85 per cent, to Rs 6,552 per quintal with an open interest of 13,085 lots.
Marketmen said speculative positions created by participants, driven by strong domestic as well as exports demand in the spot market, mainly led to the rise in turmeric prices.
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