Pepper seen weak on sluggish demand

MUMBAI: Cumin futures are likely to remain steady on Monday as lacklustre export demand and hopes of higher output are seen weighing on prices, analysts said. The benchmark June cumin contract ended at 12,292 rupees per 100 kg, down 0.71 percent in the previous session.
Overseas buyers are staying away, waiting a further fall in prices on the higher output view, traders said. Production in 2010 is seen rising to 2.9 million bags of 60 kg each from 2.7 million bags in 2009, the poll of eight traders and exporters showed on April 19. Cumin exports in February 2010 dropped 17 percent to 2,500 tonnes on year, the Spices Board said.

PEPPER: Pepper futures to remain weak during the day on sluggish overseas demand, analysts said. The benchmark pepper June contract ended lower by 0.35 percent at 16,924 rupees per 100 kg in the previous session.

Pepper exports in February 2010 fell 3.22 percent to 1,500 tonnes on year, according to data from the Spices Board. 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 found.

TURMERIC: Turmeric futures are expected to trade higher in the initial hours of trade on encouraging overseas demand and low stocks, analysts said. The June turmeric contract gained 1.98 percent to end at 14,810 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 in small quantities, gain momentum from March and continues through June.