MUMBAI, Dec 9 (Reuters) - India jeera futures are seen opening up on Wednesday on support from lower crop worries and on firm export demand, analysts said.
Fundamentals remain firm as leading producers Syria and Turkey continue to quote jeera at a premium to Indian prices, analysts said.
A prolonged hot and dry spell has delayed the sowing of cumin, or jeera, slashing acreage 25-30 percent from last year, but traders and analysts said the deficit could narrow if conditions improve. [nBOM487298]
The benchmark January jeera contract NJEF0 ended down 1.21 percent at 14,576 rupees per 100 kg in the previous session.
PEPPER:
Indian pepper futures are likely to open up on firm domestic demand and low stocks, analysts said.
However, gains may be capped by weak overseas demand, they added.
The benchmark January pepper contract NPEF0 ended down 3.35 percent at 14,619 rupees per 100 kg in the previous session.
TURMERIC:
India's turmeric futures, which hit the upper circuit in the last two sessions, are likely to open higher tracking the spot market and on thin stocks, analysts said.
Futures are trading in discount to spot prices, they said.
Carry-forward stocks were low as output had fallen sharply last year due to low acreage and bad weather.
The April turmeric contract NTMJ0 ended up 2.77 percent at 7,355 rupees per 100 kg in the previous session. A likely rise in production this year may prompt profit-taking later, they added.
Turmeric output is likely to rise this year as farmers in southern and western India increased acreage under the spice, traders said.
Source : REUTERS