India spices seen down on weak demand, rains
MUMBAI, July 3 (Reuters) - Indian jeera futures are likely to open down on Friday on falling export demand due to a good overseas crop, analysts said.
A healthy crop from Syria, a leading global producer, has started arriving in the international markets, which is weighing on exports and prices in India, analysts said.
Losses, however, are expected to be limited by reports of some damage to the crop in Turkey due to rainfall in the past couple of days, analysts and traders said.
The benchmark July contract NJEN9 ended up 0.34 percent at 10,699 rupees per 100 kg the previous session.
PEPPER:
India pepper futures are likely to open steady as pressure from sufficient rainfall in main growing regions is expected to be offset by firm domestic demand, analysts said.
Domestic demand is firm due to low stocks available in the country, analysts said.
The benchmark July contract NPEN9 ended up 0.43 percent at 12,486 rupees per 100 kg in the previous session.
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