MUMBAI, Aug 17 (Reuters) - Indian jeera futures are likely to open steady on Monday as support from strong domestic demand ahead of the festive season is likely to be offset by weak exports and rising warehouse stocks, analysts said.
Export demand continues to remain weak as leading global producers of the spice, Syria and Turkey, harvested a better-than-expected crop this season.
The price trend, after sowing begins in October, will be determined by the monsoon, analysts said.
The benchmark September contract NJEU9 ended down 0.32 percent at 11,774 rupees per 100 kg the previous session.
PEPPER:
India pepper futures are likely to open up on low stocks, firm domestic demand and reviving exports, analysts said.
Domestic demand is firm ahead of the festive season and shrinking price difference with Vietnam and Indonesia is also going to continue supporting Indian prices in the coming months, analysts said.
The benchmark September contract NPEU9 ended up 2.20 percent at 14,798 rupees per 100 kg in the previous session.
TURMERIC:
India turmeric futures may open higher on weak rainfall over growing region and depleting stocks amid good festive demand, but profit-taking is seen weighing on the prices, analysts said.
At the end of June, trade estimates put stocks in the country at 1.35 million bags, while demand for June to February period is pegged at 2.2 million bags. The peak turmeric arrival season begins from March.
The September contract NTMU9 ended at 7,334 rupees per 100 kg in the previous trading session.
Source : REUTERS