Financial Daily from THE HINDU group of publications
Tuesday, Nov 02, 2004
Financial Daily from THE HINDU group of publications Tuesday, Nov 02, 2004 |
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Agri-Biz & Commodities
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Spices & Condiments Pepper slides below Rs 60/kg G.K. Nair
Kochi , Nov. 1 PEPPER prices continued to remain weak on heavy selling pressure and have declined below the Rs 60 a kg-mark at auctions here. Spot prices on Monday were MG 1 Rs 6,200 and un-garbled Rs 5,900 as against Rs 6,400 and Rs 6,100 respectively on October 25. Futures prices were November Rs 6,126 as against Rs 6,389 last Monday. December Rs 6,128 (Rs 6,391), January Rs 6,181 (Rs 6,446), February Rs 6,256 (Rs 6,569), March Rs 6319 (Rs 6,642) and April Rs 6,381(Rs 6,707). As the Indian parity is at $1,500 a tonne some export buying has taken place. There were orders for quality MG 1 pepper from consumers in Europe who prefer Indian pepper, trading sources told Business Line. Indian MG 1 is qualitatively superior, they added. Brazil and Vietnam were offering pepper at $ 1,300 a tonne (fob), they said. The domestic demand was weak as it is met by imports from Sri Lanka at $ 1,300 a tonne and direct buying from the primary markets and transporting from there evading tax, they said.
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