Mumbai - Black pepper and jeera futures continued with the downfall, losing more strength amid heavy selling and profit-booking by traders and speculators on the National Commodity and Derivatives Exchange [NCDEX] Tuesday. Turmeric futures, however, extended the small gains of the previous session and were trading higher. Trading in red chilli futures had not begun so far.

Black pepper futures were trading lower during the early trade. At 10.19 am IST, benchmark December-07 black pepper dropped Rs 134 to trade at Rs 13,082/quintal, while January-08 futures was down Rs 106 at Rs 13,326/quintal. Volume in December and January contracts was 239 tonnes and 688 tonnes respectively.

Earlier, at the spot markets Monday, black pepper was steady amid lackluster trade. Traders said, there were no signs of price rise in the near future. Black pepper prices will remain weak due to lack of demand from exporters, who have stepped back looking at the higher prices of Indian variety in the international markets, traders added.

Jeera futures were also trading in the red zone on the NCDEX. At 10.19 am IST, benchmark December-07 futures fell Rs 29 to trade at Rs 9923/quintal with 108 tonnes contracted. January-08 futures went down Rs 43 to trade at Rs 10,099/quintal with a volume of 252 tonnes.

Spot jeera traded steady at the main market Unjha in Gujarat and Jodhpur in Rajasthan. Traders said, jeera prices will go up next month as export demand was expected to rise at that time.

Turmeric futures were trading slightly higher on the exchange. At 10.22 am IST, more-active December-07 turmeric was up Rs 13 to trade at Rs 2251/quintal with 780 tonnes contracted. April-08 contract rose Rs 11 to trade at Rs 2522/quintal with a volume of 640 tonnes.

Spot turmeric added another Rs 25-Rs 30/quintal amid continued demand from stockists and exporters at the main market Sangli. Prices were steady at Erode, Warangal and Duggirala markets. Traders said, stockists were piling up stocks on unconfirmed reports that turmeric production was expected to fall 30% than the estimates.

Trading in red chilli futures had not started till the filing of this report.

Red chilli traded up Rs 50/quintal amid improved demand from exporters at the main market Guntur in Andhra Pradesh. The standing crop of red chilli in Andhra Pradesh was reported to be in good condition. A total of 40,000 bags arrived at Guntur market while around 20,000 bags were traded. Importers provided boost to the volume by purchasing around 10,000 bags, said local traders.