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India jeera, turmeric seen firm on export demand, spot.


Date: 26-10-2009
Subject: India jeera, turmeric seen firm on export demand, spot
MUMBAI, Oct 26 (Reuters) - Indian jeera futures are expected to open up on Monday as firm export demand along with reports of unfavourable weather in the growing regions is seen supporting sentiment, analysts said.

Sowing, which would commence this week, will provide further cues for prices, analysts said.

Jeera exports in September 2009 rose 187 percent to 6,000 tonnes from the same period a year ago.

The benchmark November contract NJEX9 ended up 0.11 percent at 12,702 rupees per 100 kg the previous session.

PEPPER

Indian pepper futures are seen opening steady as support from firm spot demand may be offset by pressure from the Brazilian crop , analysts said.

The harvesting of the Brazilian crop is active and lower quotes from the country is attracting demand, analysts said.

The benchmark November contract NPEX9 ended up 0.75 percent at 14,256 rupees per 100 kg in the previous session.

India's turmeric futures are expected to open up active spot demand, a tight supply situation and worries the next season's crop may be hurt by rains will underpin prices, they said.

Major producing states like Andhra Pradesh, Karnataka and Maharashtra received heavy rains earlier this month.

Dwindling stockpiles are also seen supporting the upside, analysts added.

The benchmark November turmeric NTMX9 ended up 1.48 percent at 9,510 rupees per 100 kg.

Source : REUTERS

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