Business Daily from THE HINDU group of publications
Tuesday, Jun 20, 2006
Business Daily from THE HINDU group of publications Tuesday, Jun 20, 2006 |
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Agri-Biz & Commodities
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Spices & Condiments Pepper futures improve G. K. Nair
Kochi , June 19 Pepper futures improved on Monday on buying support. Local arms of the international players have bought NCDEX June contracts and sold in the international market in quantity, market sources told Business Line. They said the buyers would take physical delivery and reprocess it for export. This has broken the hitherto prevailing practice of the stock rolling around here and facilitated the commodity moving out of the country. The current trend would pave the way for some goods being shipped out and the overseas buyers showing interest in placing orders. The futures market, as a result, might witness some improvement in the coming days, they said.
Rise in turnover
June contracts increased by Rs 150 a quintal on NCDEX to close at Rs 6,605 from Rs 6,455 on Saturday, while other positions improved by Rs 40 to Rs 71 a quintal. On NMCE, July contracts increased by Rs 15 to close at Rs 6,700 a quintal as against Rs 6,685 on Saturday. Contracts of August, September and October dropped by Rs 13, Rs 70 and Rs 10 respectively while November and December were up by Rs 25 and Rs 50 a quintal respectively. The total turnover on NCDEX on Monday increased by 1,749 tonnes to 3,615 tonnes from that of Saturday. On NMCE, it was 176 tonnes as against 11 tonnes. Spot prices continued to rule steady at Rs 6,500 (un-garbled) and Rs 6,900 (MG 1) a quintal.
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