MUMBAI (Commodity Online): Turmeric futures once again hit the upper circuit Thursday at the NCDEX counter with strong fundamental support. The demand for yellow spice remained firm in the spot market amid lower carry over stocks.

NCDEX turmeric April contract quoted higher four percent at Rs 11,289. The open interest in the contract dipped 5.18 percent to 14,250 tonnes, indicating short covering.

Turmeric hit fresh contract highs on bullish cues from spot market, buying by stockists and on low stocks. Buying is good in spot as this is the major demand period. In Turmeric, demand usually picks by March end.

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Overseas enquiries are also likely to increase. In Nizamabad, a major spot market in Andhra Pradesh, the price jumped over 1100 rupees to end at 10,761 rupees against Friday's close. Turmeric yesterday we have seen that market has moved 4.01%.

Market has opened at 10645 & made a low of 10645 versus the day high of 10854. The total volume for the day was at 1870 lots and the open interest was at 15020.Support for turmeric is at 10715 below that could see a test of 10575. Resistance is now seen at 10924 above that could see a resistance of 10993.

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