Spices: Pepper futures (July) may face resistance at 30,500 levels. Meanwhile, the growers in the plains of Kerala were also selling at Rs 270-275 a kg to investors for depositing in the warehouses. But the sellers in the high ranges were reluctant to sell the high range pepper at Rs 280 per kg. Indian parity in the international market has touched $7,000 a ton (c&f). Turmeric futures may remain sideways tracking lethargic conditions at the spot markets. Farmers and stockiest are not showing interest to sell the spice at lower levels. They are rather in mood for the prices to improve in days to come. Jeera futures may remain sideways. Fresh supplies from Syria and Turkey will commence from July onwards. Cardamom futures may remain downside. Strong carryover stocks and anticipation of strong production have incited the stocks liquidation. Other commodities: Kapas futures may remain sideways. Though the Centre has allowed export of an additional 10 lakh bales of raw cotton, exporters are grappling with slow demand. Demand for raw cotton exports is slow as yarn is not moving at all in the global market. Exporters have built large inventories. Therefore, the export clearance may not result in a price surge. Sugar futures may remain sideways. Godowns of sugar mills are full to the brim as traders slow purchases due to lack of demand. Ex-mill sugar prices have touched Rs 25 a kg which is below break-even. Chana futures (July) may consolidate above 2580 levels. Mixed trend for pulses will continue in near future as better demand may support the prices in near term. Oilseeds: Soybean fut
