Most Indian spices seen weak; jeera may rise on demand
MUMBAI, July 1 (Reuters) - Indian pepper futures are expected to open lower on Tuesday on weak export demand ahead of arrivals in Indonesia and Brazil, analysts said.
Arrivals in Indonesia and Brazil, two of the world's largest producers and exporters, will start in July.
However, a tight supply situation in the physical market may restrict the losses, they said.
The benchmark August contract NPEQ8 ended at 13,997 rupees per 100 kg, down 0.74 percent on Monday.
JEERA:
Indian jeera futures are likely to open higher on Tuesday on strong export demand and hopes of a lower crop output in Syria and Turkey, analysts said.
Syria and Turkey are two of the largest jeera producers and lower crop there may help Indian exporters.
The benchmark September contract NJEU8 ended at 12,645 rupees per 100 kg, down 0.7 percent, on Monday.
TURMERIC: Turmeric futures are likely to extend losses in early trade on profit-taking driven by rainfall in main growing region, which would help farmers in increasing acreage, analyst said. Continued...
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