India pepper, turmeric seen up on low stocks, demand
MUMBAI, Jan 9 (Reuters)- India pepper futures are likely to open up on Friday on improving demand and lower arrivals, analysts said.
Low warehouse stocks are also seen supporting prices, analysts said.
The benchmark February contract NPEG9 ended up 2.57 percent at 11,947 rupees per 100 kg in the previous session. It may open around 10,997-12,007 rupees, an analyst said.
TURMERIC:
Turmeric futures may extend gains from the previous session on robust export demand and lower warehouse stocks compared to last year, analysts said.
The benchmark April contract NTMJ9 ended 1.07 percent up at 3,696 rupees per 100 kg, in the previous session.
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 2008, traders said.
Exports rose 9.3 percent to 36,500 tonnes on-year in the first eight months of fiscal 2008/09.
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