MUMBAI, Nov 25 (Reuters) - India jeera futures may open weak on Wednesday on profit-taking after prices rose close to 15 percent in the last eight sessions, analysts said.
Losses, however, will be capped by robust overseas demand and a fall in acreage, 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.
Benchmark December jeera NJEZ9 ended up 0.10 percent at 15,485 rupees per 100 kg in the previous session.
PEPPER
Indian pepper futures are likely to open up on thin stocks and firm overseas demand, analysts said.
The Brazilian crop, which is quoting lower and attracting international demand, however, may hurt sentiment, they said.
The benchmark December pepper NPEZ9 ended up 1.37 percent at 15,907 rupees per 100 kg in the previous session.
TURMERIC:
India's turmeric futures are likely to open weak as higher margin and hopes recent rains would boost yields is seen hurting sentiment, analysts said.
Major turmeric producing states like Andhra Pradesh, Maharashtra, Karnataka and Tamil Nadu received rains in the past two weeks.
The NCDEX imposed an additional special margin of 10 percent on the long side of all turmeric contracts from last week.
The benchmark December turmeric NTMZ9 ended down 4.29 percent at 9,579 rupees per 100 kg in the previous session.
Lower stockpiles, however, are expected to cap the downside, analysts said.
Carry-forward stocks were low as output had fallen sharply last year due to low acreage and bad weather.
Source : REUTERS