MUMBAI, Dec 14 (Reuters) - India jeera futures are seen opening lower on Monday on continued selling pressure after prices rose over a quarter in November, analysts said. Losses, however, are expected to be limited by strong export demand as leading producers, Syria and Turkey, continue to quote jeera at a premium to Indian prices, analysts said.
The benchmark January jeera contract NJEF0 ended down 0.46 percent at 14,726 rupees per 100 kg in the previous session.
PEPPER:
Indian pepper futures are likely to open weak as lack of export demand and a higher global output may hurt sentiment, analysts said.
The International Pepper Community, an inter-governmental organisation of pepper producing countries, projects global pepper production to increase by 3 percent in 2010 to 290,742 tonnes from 281,974 tonnes last year.
Domestic prices are also expected to ease further from January when the new crop arrivals start, analysts said. However, losses until then will be capped by low stocks in the country.
The benchmark January pepper contract NPEF0 ended down 0.20 percent at 14,708 rupees per 100 kg in the previous session.
TURMERIC:
India's turmeric futures are likely to open higher tracking a firm spot market and on thin stocks, but estimates of a rise in production this year may prompt profit-taking later, analysts said.
Carry-forward stocks were low as output had fallen steeply last year due to low acreage and bad weather.
The April turmeric contract NTMJ0 ended up 0.49 percent at 7,204 rupees per 100 kg in the previous session.
Turmeric output is likely to rise this year as farmers in southern and western India increased acreage under the spice, traders said.
Source : REUTERS