Turmeric prices surged Rs 100 to Rs 7,634 per quintal in futures trade today after participants raised bets, taking positive cues from the physical market on better export demand. At the National Commodity and Derivative Exchange, turmeric for delivery in May contracts rallied Rs 100, or 1.33 per cent, to Rs 7,634 per quintal, with an open interest of 335 lots. The April month contract also rose Rs 64, or 0.85 per cent, to Rs 7,594 per quintal with the business turnover of 10,025 open lots. Marketmen said expanding of positions by traders in sync with a firm trend at the spot market on strong export demand amid restricted supplies led to the rise in prices. India is the largest producer of turmeric accounts nearly 80-85 per cent of world's total production.
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