Commodity Online
MUMBAI: Arrival of spices in higher quantities and profit booking has led to lowering of prices in Indian markets.

Jeera arrivals increased to about 12,000 bags from 10,000 bags last week. The jeera prices fell in afternoon trade. In National Commodity and Derivatives Exchange (NCDEX), the July contract was trading at Rs 11250, decrease of 215 rupees over previous close.

Spot jeera fell 1.1 percent to 10,544 rupees per 100 kg in Unjha, a major trading hub in Gujarat.

Pepper futures fell due to lower prices in Vietnam because harvesting season has peaked.

The 20 June contract of NCDEX was trading at Rs 14085, Rs 154 less than previous close and July contract at 14334, down by Rs 144.

Spot pepper fell 1.3 percent to 14,350 rupees per 100 kg in Kochi, a major spices hub in Kerala.

Turmeric futures extended losses in afternoon trade on profit-taking after rising more than 33 percent in May, analysts said.

Weak demand in the spot market due to higher prices was also weighing on prices. The 20 August contract was trading at Rs 4014 down by Rs 60 in afternoon trade in NCDEX.

Chilli futures were down on profit-booking and expectation of heavy rains in Guntur next week. The spot market in Guntur is closed till next Monday.

At NCDEX, the August contract (CHLL334GTR) was selling at Rs 5444 down by Rs 53 in the afternoon trade.