Most India spices open down on weak exports

MUMBAI, Dec 1 (Reuters) - India pepper futures opened down on Monday on low export demand and hopes of higher output, analysts said.

Pepper exports from India during the April-October period fell 35 percent to 14,750 tonnes as the credit crunch hit major importers, according to the Spices Board.

However, tight supplies and low warehouse stocks ahead of fresh arrivals in December may restrict losses later in the day, they said.

At 10:48 a.m., the benchmark January contract NPEF9 was at 11,076 rupees per 100 kg, down 1.2 percent.

TURMERIC:

Turmeric futures fell in early trade on expectations of early arrivals of new crop, but low inventories were capping the downside, analysts said.

Turmeric carryover stocks for 2009 are seen at 500,000 bags, down 58 percent from last year's 1.2 million bags, due to lower output in 2007/08, traders said last month.

At 10:49 a.m., the benchmark December contract NTMZ8 was down 0.39 percent at 3,857 rupees per 100 kg.

CHILLI: