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Turmeric prices hit upper limit in futures trade trade by surging 4% to Rs 6,502 per quintal as speculators enlarged positions triggered by a pick-up in export demand.
At the National Commodity and Derivatives Exchange, turmeric for delivery in April shot up by Rs 250, or 4%, to Rs 6,502 per quintal with an open interest of 420 lots.
Similarly, the spice for delivery in May moved up by Rs 252, or 3.99%, to Rs 6,572 per quintal in 12,600 lots.
Analysts said strong export demand in the spot markets helped turmeric futures to hit an upper circuits by surging 4% as speculators enlarged positions.
