India spices futures fall on harvest arrivals

MUMBAI, April 23 (Reuters) - Indian spices futures were trading lower in afternoon trade on Wednesday on rising arrivals in the spot market, analysts said. JEERA

Jeera futures fell on higher arrivals in the physical market and low domestic demand, analysts said.

At 1:20 p.m., the benchmark May jeera NJEK8 on the National Commodity & Derivatives Exchange (NCDEX) was down 1.43 percent at 8,970 rupees per 100 kg.

Arrivals in the physical market were about 20,000 bags of 70 kg each, while demand was about 16,000 bags, traders said.

Spot jeera fell 0.7 percent to 9,092 rupees per 100 kg in Unjha, a major trading hub in Gujarat.

CHILLI:

Chilli futures extended losses in afternoon trade on rising arrivals in the peak season, analysts said.

The benchmark June contract NCBM8 was down 1.49 percent at 5,030 rupees per 100 kg at 1:22 p.m.

Good demand from exporters and a shortfall of good quality produce was restricting losses.