India spices open down, weak export demand hurts.

 Indian jeera futures opened lower on Thursday on sluggish export demand, but weak arrivals and low stocks in the warehouses may support prices later in the day, analysts said.

Jeera exports, which had been rising till August, declined about 40 percent to 2,250 tonnes in September.

Total stocks in the NCDEX warehouses stood at 385 tonnes as on Nov 4.

At 10:47 a.m., January jeera NJEF9 was trading at 10,491 rupees per 100 kg, down 1.34 percent.

TURMERIC: Turmeric futures opened down on an expected increase in the output in 2008/09 due to favourable weather, analysts said.

At 10:50 a.m., the benchmark December contract NTMZ8 was down 1.44 percent at 3,497 rupees per 100 kg.

However, lower stocks in warehouses compared to last year were restricting the downside.

CHILLI: Chilli futures fell in early trade on fresh arrivals from Madhya Pradesh and lower export demand, analysts said.

At 10:48 a.m., the December contract NCBZ8 was down 0.52 percent at 5,194 rupees per 100 kg.


Source : Retuers India