Turmeric, Jeera, pepper seen down; chilli up

MUMBAI, Nov 21 (Reuters) - Indian turmeric futures are liely to open lower on Friday as new crop is expected to hit the market almost a month in advance, analysts said.

However, low inventories and improved demand from domestic and overseas buyers may restrict the losses, they said.

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

The benchmark December contract NTMZ8 ended down 0.21 percent at 3,850 rupees per 100 kg in the previous session.

JEERA:

Indian jeera futures are likely to open down on weak exports and hopes of higher production, analysts said.

Jeera exports fell 18.5 percent in October due to low overseas demand as a fall-out of the global financial crisis, according to the Spices Board.

Output is likely to rise 10-15 percent in 2008/09 as farmers have increased their acerage on better price realisation last year, said an analyst with Karvy Comtrade Ltd.

However, low stocks in warehouses may restrict the losses, analysts said.