MUMBAI, Dec 21 (Reuters) - India jeera futures are seen opening weak on Monday on profit-taking and weak spot demand, analysts said.
Prices of the spice rose by over a quarter in November.
Losses are expected to be limited by strong export demand as leading producers, Syria and Turkey, continue to quote jeera at a premium to Indian prices, analysts said.
The benchmark January jeera contract NJEF0 ended up 4 percent at 14,972 rupees per 100 kg in the previous session.
PEPPER:
Indian pepper futures are likely open lower as lack of export demand and a higher global output may hurt sentiment, analysts said.
The International Pepper Community, an inter-governmental organisation of pepper producing countries, projects global pepper production to increase by 3 percent in 2010 to 290,742 tonnes from 281,974 tonnes last year.
Domestic prices are also expected to ease further from January, when the new crop arrivals start, analysts said. However, losses until then will be capped by low stocks in the country, analysts said.
The benchmark January pepper contract NPEF0 ended up 0.31 percent at 14,425 rupees per 100 kg in the previous session.
TURMERIC:
India's turmeric futures are likely to open higher on depleting stockpile and weak arrivals in physical market, but hopes of higher output on the back of a rise area in southern and western India seen weighing on prices, analysts said.
Carry-forward stocks were low as output had fallen steeply last year due to low acreage and bad weather.
The April turmeric contract NTMJ0 ended up 2 percent at 7,055 rupees per 100 kg in the previous session.
Source : REUTERS