Turmeric up over 2%

Speculation of a drop in output next year triggered the upmove

Turmeric prices rose sharply by over 2% to Rs 6,788 per quintal in futures trading today.

At the National Commodity and Derivatives Exchange, the May contract spurted by Rs 134, or 2.01%, to Rs 6,788 per quintal, with an open interest of 6,000 lots.

The April contract traded higher by Rs 132, or 2.01%, to Rs 6,712 per quintal, with an open interest of 25,130 lots.

Marketmen said fresh positions created by speculators, strong spot markets demand amid speculation of a drop in output next year pulled up the price.