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India pepper, turmeric fall; jeera rises on export enquiries
November 8, 2012 / 9:42 AM / 5 years ago

India pepper, turmeric fall; jeera rises on export enquiries

MUMBAI, Nov 8 (Reuters) - Indian pepper futures fell on Thursday on estimates of higher output and weak export sales though depleting stocks prevented any sharp fall in prices.

* At 0935 GMT, the most-active December contract on the National Commodity and Derivatives Exchange (NCDEX) fell 1.86 percent to 41,620 rupees per 100 kg.

* “Pepper output is expected to be higher due to favourable weather conditions but demand is not supportive,” said Chowda Reddy, a senior analyst at JRG Wealth Management.

* Traders expect pepper output to remain around 55,000-60,000 tonnes as compared with 43,000 tonnes in the previous season.

* At Kochi, a key market in Kerala, spot pepper was steady at 41,933 rupees per 100 kg.


Indian turmeric futures fell as higher stocks and lack of buying in the spot market, weighed on sentiment.

* The December turmeric contract on the NCDEX was down 2.91 percent at 5,198 rupees per 100 kg.

* “Trend in turmeric is weak due to mounting stocks and almost steady demand. Supplies would increase from January with the arrival of the new crop,” said Reddy.

* At Nizamabad, a key market in Andhra Pradesh, turmeric fell 61 rupees to 5,073 rupees per 100 kg.


Indian jeera futures rose as some fresh enquiries from exporters aided buying though a pick-up in domestic supplies limited the upside.

* Jeera sowing in Gujarat has started, and is expected to gain pace gradually.

* The December jeera contract on the NCDEX was 0.34 percent higher at 14,955 rupees per 100 kg.

* “Overseas buyers are showing some interest at these prices. Fresh enquiries have started coming and if prices stabilize at these levels then exports could pick up,” said Jay Kumar Jain, a trader from Unjha, a key market in Gujarat.

* At Unjha, spot jeera fell by 27 rupees to 14,994 rupees per 100 kg.

* India is the world’s top producer of the spice, followed by Syria and Turkey. (Reporting by Meenakshi Sharma; Editing by G.Ram Mohan)

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