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India spices seen opening firm as demand improves.


Date: 28-10-2009
Subject: India spices seen opening firm as demand improves
MUMBAI, Oct 28 (Reuters) - Indian jeera futures are expected to open up on Wednesday as rising export demand and a firm spot is seen underpinning sentiment, analysts said.

Sowing, which has commenced this week, will provide further cues for prices, analysts said.

The benchmark November contract NJEX9 ended down 2.31 percent at 12,629 rupees per 100 kg the previous session.

PEPPER

Indian pepper futures are seen opening up on a firm spot demand and a revival in overseas demand, analysts said.

Gains may be limited as the harvesting of the Brazilian crop is active and lower quotes from the country is attracting demand, analysts said , analysts said.

The benchmark November contract NPEX9 ended down 1.30 percent at 14,538 rupees per 100 kg in the previous session.

TURMERIC:

India's turmeric futures are expected to open up as low stocks, a firm spot and worries over next season's output will underpin prices, they said.

Analysts expect prices to correct sharply only after the new crop arrivals start.

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

The benchmark November turmeric NTMX9 ended up 0.65 percent at 9,904 rupees per 100 kg.

Source : REUTERS

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