After expiry on NCDEX most of the spices showed some signs of weakness and corrected during Saturdays session.

Arrivals at Cardamom Planters' Association, Santhanpara were 22734 kgs. and prices were firm on the back of fewer arrivals. Cardamom due to erratic weather conditions, we may see 10% decreases in overall crop size.

Jeera futures prices are trading almost Rs. 300/quintal at discount against spot prices. Arrivals in Unjha mandi continues to remain between 5000-6000 bags and low carry forward stocks of 10 kah bags may prevent sharp downside from present levels.

Pepper continue to looks strong fundamentally as origins such as Indonesia and Vietnam are firm and domestic stock scenario continues to remain any seasonal uptick in demand can trigger sharp upside in pepper futures.

Turmeric futures are too in huge discount but sharp downside in Open Interest indicating some unwinding of long positions which may prevent major upside in yellow spices.

We recommend buying Pepper and Jeera at decline of 1-2%, Cardamom prices may move up on the back less arrivals. Mentha oil we expect prices to trade soft as export demand is sluggish.