Mumbai - After witnessing sharp losses during the previous session, jeera and black pepper futures started Friday's session in the red territory amid continued selling and profit-booking by traders and speculators during the initial trade. Red chilli, however, was trying to recover the previous small losses while turmeric traded mixed on the National Commodity and Derivatives Exchange [NCDEX].

Black pepper futures, which had collapsed heavy losses during the previous session, stayed in the red zone amid continued profit-booking during the early trade Friday. At 10.20 am IST, benchmark December-07 black pepper plunged Rs 54 to trade at Rs 12,845/quintal, while January-08 futures dipped Rs 41 to trade at Rs 13,080/quintal. Volume in December and January contracts was 90 tonnes and 872 tonnes respectively.

Earlier, at the spot market Thursday, black pepper traded unchanged at the main market Kochi. Prices have not seen movement since last four days. Market participants say, fresh domestic demand for black pepper will start coming in now with the onset of winter season, and this is likely to take up the prices. Though prices are also likely to remain under-pressure due to presence of recently imported black pepper in the market.

Extending the losses of the previous session, jeera futures traded lower amid continued selling on the NCDEX Friday. At 10.18 am IST, benchmark December-07 futures went down Rs 86 to trade at Rs 9644/quintal with 126 tonnes contracted. January-08 futures dropped Rs 106 to trade at Rs 9800/quintal with a volume of 588 tonnes.

Jeera traded steady at the main market Unjha in Gujarat and Jodhpur in Rajasthan. Traders in Gujarat are totally gripped by the Assembly elections fever, which has slowed down trade activities in the State.

Red chilli futures, however, switched over to the green territory amid fresh buying during the early hours on the domestic exchange. At 10.16 am IST, February-08 red chilli contract gained Rs 21 to trade at Rs 3470/quintal with a volume of 15 tonnes. March-08 futures collected Rs 13 to trade at Rs 3397/quintal with a volume of five tonnes.

Red chilli was trading unchanged amid weak demand and also decreased arrivals at the main market Guntur in Andhra Pradesh Thursday. Red chilli has declined around Rs 900/quintal since Diwali festival last month.

Trade participants say red chilli prices are unlikely to become stable in the near futures as the country, especially Andhra Pradesh, is expected to produce bumper crop this year. Moreover, India may not get demand from China and Pakistan as both the countries are likely to witness bumper crop. Meanwhile, red chilli stocks have finished at NCDEX godowns.

Turmeric futures were trading mixed on the NCDEX. At 10.23 am IST, more-active December-07 turmeric was down Re one to trade at Rs 2292/quintal with 950 tonnes contracted. April-08 contract was trading up Re one at Rs 2580/quintal with a volume of 3350 tonnes.

Spot turmeric witnessed no movement at the main market Sangli Thursday. Turmeric prices had gained during the last session on unconfirmed reports that a part of turmeric crop in Nizamabad and Warangal regions has been affected by insects. Domestic demand also supported the spot prices.