MUMBAI, Jan 18 (Reuters) - India jeera futures are likely to extend the previous day's losses on Monday on higher output estimates, weak export demand and sufficient stocks, analysts said.
In India, the jeera plant is grown as a rabi, or winter-sown crop, in October-December and harvested in February, March and April.
Jeera exports in November 2009 dipped to 4,000 tonnes from 4,500 tonnes in the same period a year ago on lower demand from traditionally strong customers such as U.S., Europe and the Middle East.
The benchmark February jeera NJEG0 last closed down 1.9 percent at 12,612 rupees per 100 kg.
PEPPER:
India pepper futures may extend losses on Monday on sluggish export demand and expectations of higher arrivals, analysts said.
Pepper exports have remained sluggish throughout the year mainly due to premium Indian prices. Exports declined by 29 percent to 1,500 tonnes in November.
The benchmark February pepper contract NPEG0 ended down 0.6 percent at 13,398 rupees per 100 kg in the previous session.
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.
TURMERIC:
India turmeric futures are likely to extend losses as improving arrivals in physical market, weak export demand and higher output estimate are seen putting pressure on prices, analysts said.
The April turmeric contract NTMJ0 ended down 2.51 percent at 7,101 rupees per 100 kg in the previous session.
India's turmeric exports in November dropped by 33 percent to 3,000 tonnes, the Spices Board said last week.
Turmeric arrivals usually start in mid-January in small quantities and gain momentum from March. The peak season runs till June.
Source : REUTERS