India spices mostly up on low stocks; pepper down
MUMBAI, Nov 28 (Reuters) - India jeera futures edged up on Friday due to low warehouse stocks, analysts said.
However, weak demand and expected higher production capped some gains, they said.
Jeera exports fell 18.5 percent in October due to low overseas demand as a fallout of the global economic slowdown, according to the Spices Board.
At 2:09 p.m, benchmark January jeera NJEF9 was at 10,513 rupees per 100 kg, up 0.19 percent.
Spot jeera rose 0.4 percent to 10,595 rupees per 100 kg, in trading hub Unjha, in Gujarat.
TURMERIC:
Turmeric futures were also trading higher on low carryover stocks and firm spot prices, analysts said.
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 2:09 p.m., the benchmark December contract NTMZ8 was up 0.52 percent at 3,860 rupees per 100 kg. Continued...
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