Spices likely to remain firm on demand; low stocks

MUMBAI: Cumin futures are likely to trade firm in the initial hours of trade on Monday, supported by low stocks, squeezed supply and some local demand, analysts said. The benchmark June cumin contract ended at 12,815 rupees per 100 kg, up 1.52 percent in the previous session. Cumin exports in February 2010 dropped 17 percent to 2,500 tonnes on year, the Spices Board said.

PEPPER: Pepper futures may trade higher on limited supply and poor stocks but weakness in the overseas demand may cap gains, analysts said. The benchmark pepper June contract ended higher by 1.66 percent at 16,630 rupees per 100 kg in the previous session. Pepper exports in February 2010 fell 3.22 percent to 1,500 tonnes on year, the Spices Board said on Thursday. India's pepper output in 2010 is expected around last year's levels, but prices are unlikely to fall sharply in coming months due to low carry-over stocks, a Reuters poll of eight traders.

TURMERIC: Turmeric futures may trade higher on robust overseas enquiries, domestic demand and restricted arrivals as farmers hope further rise in prices, analysts said. The May turmeric contract gained 3.75 percent to end at 15,380 rupees per 100 kg in the previous session. Turmeric exports in February 2010 stood at 2,500 tonnes, down 19 percent from a year ago, according to data from the Spices Board. Arrivals usually start in mid-January, gain momentum from March and continues through June.