MUMBAI, Dec 1 (Reuters) - India jeera futures are seen opening up on Tuesday as a dip in acreage that sparked lower crop worries and firm export demand may support sentiment, analysts said.
Export demand is firm as Syria and Turkey continue to quote at a premium to Indian prices.
A prolonged hot and dry spell has delayed the sowing of cumin, or jeera, slashing acreage 25-30 percent from last year, but traders and analysts said the deficit could narrow if conditions improve. [nBOM487298]
The benchmark December jeera contract NJEZ9 ended up 2.43 percent at 16,531 rupees per 100 kg in the previous session.
PEPPER
Indian pepper futures are also likely to open up on thin stocks and firm domestic demand, analysts said.
Brazilian pepper, which is still quoting at a discount to Indian rates, is seen hurting prices later in the day, they said.
However, the medium term trend for pepper remained bullish as Brazilian pepper prices are expected to increase from December as harvesting there ends this month, analysts said.
The benchmark December pepper contract NPEZ9 ended up 1.29 percent at 15,597 rupees per 100 kg in the previous session.
TURMERIC:
India's turmeric futures may extend gains bolstered by robust spot demand and supply crunch due to thin carry-forward stocks, analysts said.
Profit-taking may hurt, as prices had hit their upper limit consecutively in the past three sessions.
Carry-forward stocks were low as output had fallen sharply last year due to low acreage and bad weather. Traders and analysts said supply crunch is supporting upside and it will remain till fresh arrivals hit the market.
Turmeric arrivals usually start in mid-January in small quantities and gain momentum from March. The peak season runs till June.
The benchmark December turmeric contract NTMZ9 ended up 4.00 percent at 10,693 rupees per 100 kg in the previous session.
Source : REUTERS