Financial Daily from THE HINDU group of publications
Tuesday, May 23, 2006
Financial Daily from THE HINDU group of publications Tuesday, May 23, 2006 |
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Agri-Biz & Commodities
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Spices & Condiments Pepper futures decline G. K. Nair
Kochi , May 22 Fluctuations in the stock market are probably reflecting on the pepper futures market, which has shown a declining trend. The weakening of the rupee against the dollar has not made any impact on the overseas demand as the Indian parity still continued to rule at $1,675 a tonne (c&f) US port and at $1,600 a tonne at the main EU port. There was some buying interest at $1,525-1,550 a tonne. The trend is likely to continue, market sources said. No fresh demand from investors was forthcoming because of the declining trend in the futures market, they said.
Vietnam ups prices
Vietnam is said to have hiked its price by $25 a tonne. Prices of other origins remain at the previous levels. The June position declined by Rs 44 on the National Commodity and Derivatives Exchange Ltd (NCDEX) on Monday to close at Rs 6,910 from Rs 6,954 a quintal on Saturday, while the drop on the National Multi Commodity Exchange (NMCE) was Rs 46 to Rs 6,911 a quintal. The last trading price of other positions on NCDEX showed a decline from Rs 17 to Rs 60. On NMCE, the July and September positions fell by Rs 33 and Rs 50 respectively. The other positions here were up by Rs 28 to Rs 305 a quintal. The turnover on NCDEX was Rs 3,143 tonnes on Monday against 2,182 tonnes on Saturday, whereas on NMCE it was 178 tonnes against 325 tonnes. The open interest on NCDEX was 19,844 tonnes against 20,214 tonnes on Saturday. On NMCE, it was 2,342 tonnes on Monday compared with 2,346 tonne at Saturday close.
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