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India jeera,turmeric seen down;pepper up
March 14, 2012 / 2:32 AM / 6 years ago

India jeera,turmeric seen down;pepper up

MUMBAI, March 14 (Reuters) - India’s jeera, or cumin seed, futures are seen opening lower on Wednesday due to higher supplies entering the market amid expectations of higher output this year, analysts said.

* About 27,000-28,000 bags of 60 kg each from the new crop have been arriving daily in the Unjha market in Gujarat, of which 20,000-22,000 gets traded.

* Jeera is cultivated during winter from October to December and harvesting starts from February.

* Cumin was sowed in Gujarat on 368,000 hectares as on Jan. 16, up 50 percent from a year ago.

* The most-active April jeera contract ended 0.72 percent lower at 13,140 rupees per 100 kg in the previous session.


Turmeric futures are expected to open lower weighed by increasing domestic supplies in the spot market from the new season crop, traders and analysts said.

* Daily arrivals have reached about 15,000 bags of 70 kg each at the Nizamabad market in Andhra Pradesh, and are expected to rise further, they said.

* The April turmeric contract last ended 0.65 percent down at 4,260 rupees per 100 kg.

* Traders and analysts expect a bigger crop in 2012 due to increased area under the crop in the major cultivating regions.

* Turmeric output in the southern state of Andhra Pradesh, India’s top producer of the spice, is likely to rise 36 percent on year to 83,000 tonnes in 2012 due to an expansion in acreage.


Pepper futures are likely to open higher due to a squeeze in daily spot supplies due to lower output and dwindling stocks.

* Supplies are down as farmers hold back stocks awaiting a further rise in prices due to an estimated drop in output.

* Pepper April contract ended 3.88 percent higher at 42,165 rupees per 100 kg in the previous session.

* Industry officials are estimating 43,000-45,000 tonnes of domestic pepper output for 2012, compared with 49,000 tonnes last year. (Reporting by Meenakshi Sharma; Editing by Subhadip Sircar)

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