MUMBAI (Commodity Online): Turmeric futures rose Tuesday as speculators created fresh positions in the afternoon session due to firm domestic demand.
In NCDEX turmeric May contract hits upper circuit to Rs.5124 per quintal against the previous close. In the morning session the contract traded at a range of Rs.4830-5124 per quintal. Open interest of the contract stood at 5640 lots and volume traded is 5710 lots.
According to Spices Board of India, exports of Turmeric during April 2011- November 2011 stood at 58,000 tonnes as compared to 35500 tonnes in 2010-11, rise of 56%. Targets set by the Spices Board have already been met till October 2011. Exports are expected to touch new historical levels in 2011-12.