Mumbai- After closing sharply lower yesterday, Black pepper and Jeera futures on National Commodity and Derivatives Exchange [NCDEX] continued to trade in the red zone on Wednesday weighed down by speculative selling in the market.

Meanwhile Red chilli and Turmeric futures traded higher on NCDEX.

Black pepper futures weakened today as arrival of new crop and weak demand continue to weigh on market sentiments.

On NCDEX, Black pepper Dec. dipped by Rs.61 to trade at Rs 12,594 per quintal, Jan. contract weakened by Rs.70 to trade at Rs.12,820 per quintal while Feb contract traded lower by Rs.70 at Rs 13,035 per quintal.

Spot black pepper traded steady at the main market Kochi market on Tuesday amid preparations for arrival of new crop.

Red chilli futures traded firmly today supported by fresh buying in the market. However huge gains are not expected considering the arrival of new crop and hefty stocks.

On NCDEX, Red chilli February contract gained Rs.33 to trade at Rs 3,610 per quintal, March contract edged up by Rs.30 to trade at Rs.3,520 per quintal while April contract traded higher by Rs.66 at Rs.3,543 per quintal.

Red Chilli prices were quoted higher by Rs.50 per quintal on Tuesday in the main Guntur market of Andhra Pradesh. However market players do not believe that upturn movement may sustain for long as red chilli production this year in the nation is expected to better than a year ago.

Jeera futures traded higher slipped today as selling is seen in the market on back of good progress seen in crop sowing.

Benchmark December contract went down by Rs.53 to trade at Rs.9,407 per quintal, Jan. contract traded lower by Rs.36 at Rs.9,595 per quintal while Feb. contract gave away Rs.35 to trade at Rs.9,683 per quintal.

Continuing the trend seen in last few days, Jeera traded unchanged at the main market Unjha in Gujarat and Jodhpur in Rajasthan on Tuesday as well. Traders in Gujarat have totally been gripped by the Assembly elections fever, which has slowed down trade activities in the State.

Turmeric futures traded higher today. December contract was up by Rs.4 to trade at Rs.2,298 per quintal while April contract was trading up Re.1 at Rs 2,596 per quintal.

Turmeric prices were quoted steady on Tuesday in leading spot markets except Duggirala market where prices rose by Rs.25-30 per quintal.