Turmeric prices strengthened by 3.98 per cent to hit upper circuit and ended at Rs 7,424 per quintal in futures market today as participants built up fresh positions, triggered by uptick in domestic as well export demand and diminishing stocks.
Besides, restricted supplies from producing regions added support to the uptrend in turmeric prices .
At the National Commodity and Derivatives Exchange, turmeric for delivery in December was trading higher by Rs 284, or 3.98 per cent, to close at Rs 7,424 per quintal, with an open interest of 5,025 lots.
Similarly, the spice for delivery in April increased by Rs 286, or 3.95 per cent, to finish at Rs 7,526 per quintal in 3,670 lots.
Analysts said, fresh positions created by traders following upsurge in domestic as well as export demand and diminishing stocks against restricted supplies from producing regions mainly pushed up turmeric prices at futures trade.
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