Turmeric prices climbed up by
Rs 132 to Rs 6,900 per quintal in futures trade today as investors created long positions on strong physical as well as overseas demand.
Market players said investors were raising their holdings on the back of tight stock positions, powered by a spurt in demand for domestic and overseas, which reflected a sharp upturn in turmeric prices.
India is the world's largest producer and exporter of turmeric and accounts around 80-85% of world's total production.
At the National Commodity and Derivative Exchange platform, turmeric delivery for the April contract April shot up by Rs 132, or 1.95 per cent, to Rs 6,900 per quintal, with an open interest of 110 lots.
Similarly, the delivery of the May contract rose by Rs 92, or 1.35 per cent, to Rs 6,890 per quintal, with the business turnover of 14,075 open lots.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)