Spices were seen trading in narrow range overall trend in yesterday trading session in most of the spices were sideways to down and as sluggish domestic demand coupled with slack export demand resulted in lack of buying interest in futures market. ?

Jeera as stockiest are reluctant to stock jeera due to expectation of bumper crop this year continues to weigh on prices, Rains in Saurashtra and other growing areas in Gujarat are important as sowing is due to start in Oct and rains would be beneficial for the crop but after steep correction we can't rule out possibility of bargain buying. ?

Revival of monsoon however can pressurize the market sentiments in the short term. Traders also do not rule out some profit booking at higher levels for the demand to pick up. Late revival of monsoon in growing areas like AP and TN had earlier brightened prospects of improved crop productivity. ? Demand in pepper failed to pick up significantly at these levels and as per reports, traders are waiting for some more dips as reports of Brazilian crop hitting the markets are there.

That is preventing any major upside movement in rates. ? Cardamom arrivals in auctions continue to weigh on prices and in yesterdays auctions prices were down ByRs.
8/kg resulting in some correction.

? We expect Turmeric to trade sideways to down for the day, Pepper we continue to remain bullish and our recommendation would be buy pepper at dips, Jeera we may see some short covering during the day and Chilli continue to remain bearish.