India pepper seen opening up; jeera, turmeric down
MUMBAI, Nov 25 (Reuters) - India jeera futures may open weak on Wednesday on profit-taking after prices rose close to 15 percent in the last eight sessions, analysts said.
Losses, however, will be capped by robust overseas demand and a fall in acreage, analysts said.
Export demand is firm as Syria and Turkey continue to quote at a premium to Indian prices.
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]
Benchmark December jeera NJEZ9 ended up 0.10 percent at 15,485 rupees per 100 kg in the previous session.
PEPPER
Indian pepper futures are likely to open up on thin stocks and firm overseas demand, analysts said.
The Brazilian crop, which is quoting lower and attracting international demand, however, may hurt sentiment, they said.
The benchmark December pepper NPEZ9 ended up 1.37 percent at 15,907 rupees per 100 kg in the previous session. Continued...
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