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India jeera seen down; turmeric up on low-level buying.


Date: 29-01-2010
Subject: India jeera seen down; turmeric up on low-level buying

MUMBAI, Jan 29 (Reuters) - India's jeera futures are seen opening weak on Friday as higher output estimates this season are seen weighing on sentiment, analysts said.

Low export demand and favourable weather in the growing regions will also keep prices under pressure, they said.

Arrivals are expected to start in the next few days, but peak arrivals can be seen in March-April.

Jeera exports in November 2009 dipped to 4,000 tonnes from 4,500 tonnes in the same period a year ago.

Prices have fallen over 20 percent since the start of the month on worries about higher production this season.

The benchmark February jeera contract NJEG0 ended up 0.80 percent at 11,617 rupees per 100 kg in the previous session.

PEPPER:

Indian pepper futures are seen opening steady as pressure from new arrivals may be offset by low level buying, they added.

India's pepper output in 2010 is expected around last year's levels, but prices are unlikely to fall sharply in coming months due to low carry-over stocks, a Reuters poll of eight traders, exporters and analysts showed

Source : REUTERS


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