India spices futures open down on weak export demand.

India pepper futures opened down on Tuesday on sluggish demand from exporters and expectations of higher output, analysts said.

Pepper exports from India during the April-October period fell 35 percent to 14,750 tonnes as the global financial crisis hurt demand from major importers such as U.S and many European nations, according to the Spices Board.

Demand remains lacklustre as buyers are expecting a further fall in prices ahead of fresh arrivals, they said. Arrivals at Indian markets will begin next week and continue until February.

However, tight supplies and low warehouse stocks may cap losses, they said.

At 10:19 a.m., the benchmark January contract NPEF9 was at 10,880 rupees per 100 kg, down 0.48 percent.

Turmeric futures extended losses on Tuesday on profit-taking driven by sluggish demand and the expected arrival of new crop, analysts said.

At 10:18 a.m., the benchmark December contract NTMZ8 was down 1.57 percent at 3,703 rupees per 100 kg.

Chilli futures opened down as exporters cut down on purchases, analysts said. Its exports fell 21 percent to 10,000 tonnes in October 2008, compared to the same period a year ago, data from the Spices Board showed  At 10:19 a.m., the December contract NCBZ8 was down 0.21 percent at 5,345 rupees per 100 kg.

But a lack of good quality chilli coupled with a likely drop in output in 2008/09 was capping the losses.

Jeera futures opened lower on weak demand and expected higher production, analysts said. Exports of the spice fell 18.5 percent in October due to low demand as a fallout of the global economic slowdown, according to the Spices Board.

However, low stocks in warehouses may cap gains, they said.

At 10:23 a.m., the benchmark January jeera NJEF9 was at 10,380 rupees per 100 kg, down 0.33 percent.