Mumbai, Oct 16 - Jeera futures weremovinglower in initial hour of trade on profit sales Tuesday. Black pepper futures also experienced a likewise sentiment, but are tipped to erase early loses in later trade. Red chilli and turmeric futures, however, traded mix.

Most-active November jeera futures traded Rs. 22 lower at Rs. 10,433/quintal, at 11.05 hrs IST on the National Commodity and Derivatives Exchange [NCDEX]. A total of 1,101 tonnes were contracted. October and December contracts also carried over bearish sentiments of last trade to quote Rs. 12 and Rs. 13 lower at Rs. 10,040 and Rs. 10,721 per quintal respectively. Volume traded for the two contracts, in order of months, was 54 and 555 tonnes.

Overseas demand from Singapore and UAE has sustained in physical markets, but profit booking by speculative traders indicates that most of them are not prepared to back the chances of it [demand] to sustain, said industry participants.

But the short-term outlook appears positive as Syria and Turkey are done with their stocks and most of the world demand till June next is to be met with Indian stocks, add participants.

Black pepper futures also started lower, but the softness is seen unlikely to continue following tight global stockpiles projected for next season. World pepper output for year 2007/08 is estimated at 2.11-lakh tonnes, while the demand is anticipated to swell to 3.00-lakh tonnes.

Benchmark November black pepper futures fell Rs. 18 to Rs. 14,120 per quintal, while October and December contracts also traded down Rs. 13 and Rs. 45 at Rs. 13,820 and Rs. 14,410 per quintal respectively.

Volume contracted for Oct/Nov/Dec was traded 41/1,717/597 tonnes.

Meanwhile, red chilli futures continued to move mix amid expectations of domestic and overseas demand to rise in upcoming days. Demand from Bangladesh and Malaysia has resumed with the departure of Eid festival and is expected to pick up, said industry participants. Bumper crop estimates and rising arrival is, however, feared to offset the gains, they added.

Most-active November chilli futures edged up Rs. nine to Rs. 4,190/quintal. Later month February-08 also traded with modest gains of Rs. eight at Rs. 3,752/quintal, but front month October futures fell Rs. 17 to Rs. 4,335 per quintal.

Volume traded for Oct/Nov/Dec was 280/495/80 tonnes.

Turmeric futures similarly traded in mix zone, but have mostly remained rangebound. Most-active November turmeric futures moved a tad up to Rs. 2,040/quintal, higher by Re. one, while December gained Rs. two to move to Rs. 2,090/quintal. October futures, however, fell Rs. five to Rs. 1,951/quintal.

Oct/Nov/Dec turmeric traded volume of 430/1,010/200 tonnes.