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NEW DELHI: Turmeric rose marginally by 0.42 per cent in early trade on Thursday as speculators created fresh positions, largely concerned over reports of a lower projected output.

At 1135 hrs on National Commodity and Derivatives Exchange (NCDEX), turmeric for the May contract was up 0.42 per cent to Rs 5,474 per quintal, with a business volume of 10,680 lots.

The contract had gained 2.19 per cent in previous day's trading. The June month contract for turmeric gained 0.18 per cent at Rs 5,605 per quintal in a turnover of 5,500 lots. Market experts said tight carryover stocks and a projected low output may hurt supplies by 16 per cent to 4.55 million bags from the year ago.

They said a 10.5 per cent climb in export in the first eleven months of fiscal 2008-09 also influence the spice futures. – PTI

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