Turmeric futures prices rose by Rs 98, or 0.67 per cent, to Rs 14,782 per 100 kg today, as traders enlarged their positions, driven by pick up in spot demand amid tight stocks.
However, hopes that farmers may increase the area of cultivation of spice in the ongoing season, capped gains.
At the National Commodity and Derivatives Exchange, turmeric for August contract delivery traded Rs 98, or 0.67 per cent higher, at Rs 14,782 per 100 kg, with an open interest of 8,130 lots.
Similarly, turmeric for September delivery moved up by Rs 80, or 0.56 per cent, to Rs 14,480 per 100 kg, with an open volume of 890 lots.
Analysts said firming demand in spot markets helped in raising turmeric prices in futures trade, hopes that farmers may increase the area of cultivation of turmeric in the ongoing season, limited gains.
