MUMBAI (Commodity Online): Turmeric futures traded firm for the second straight session Thursday on the back of speculative buying despite fundamentals.

NCDEX turmeric April futures are now quoted four percent higher at Rs 9551 and the open interest added 2.10 percent to 22,360 tonnes, indicating that fresh buying. Volume traded as of now stood at 9,140 tonnes. The far month May and June futures now quoted four percent higher at Rs 9657 and Rs 9777 per 100 kg.

Turmeric futures traded on a positive note during Wednesday’s trading session due bargain buying on the exchange. The fundamental factors of higher spot rate and steady export demand also supported the rise in prices.

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The spot rate at Nizamabad has gained by Rs 100 to RS 9,600 per quintal on Wednesday.

The most active NCDEX April contract upon a higher opening at 8842 levels, made an intraday high of 9183 levels, lower than the previous session’s high of 9492 levels. It made an intraday low at 8803 levels and settled the day at 9183 levels, upon hitting the 4% upper circuit for the day.

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