Business Daily from THE HINDU group of publications
Wednesday, Jul 12, 2006
Business Daily from THE HINDU group of publications Wednesday, Jul 12, 2006 |
|
|
|
|
|
|
|
Agri-Biz & Commodities
-
Spices & Condiments Pepper futures bounce back G K Nair
Kochi , July 11 Pepper futures market, which fell on bearish reports on Monday bounced back on Tuesday, as the fundamentals remained unchanged. Non-availability of pepper in the ready market despite buying interest shown by exporters has also contributed to the increase in futures prices. In the international market, prices of other origins are on par with Indianprices. Vietnam is said to be offering at $ 1,850-1,875 a tonne (C&F) while Indonesia at $1,800-1,825 a tonne (C&F), while Indian parity is at $1,800-1,825 a tonne. Hence, there is still a possibility that demand may come to India if the prices remained competitive, market sources told Business Line.
Futures gain
The Jul delivery at Tuesday at NCDEX went up by Rs 131 to close at Rs 7,663 a quintal from Rs 7,532 on Monday. At NMCE, it increased by Rs 200 to close at Rs 7,675 from Rs 7,475 a quintal. The increase in other positions at NCDEX was from Rs 116 to Rs 169 a quintal, while at NMCE the rise was from Rs 67 to Rs 206 a quintal. The total turnover at NCDEX went up by 3,610 tonnes to 8,182 tonnes from 4,572 tonnes on Monday. Where as, at NMCE it increased by 265 tonne to 1,689 tonne from 1,424 tonne on Monday.
Open interest up
The open interest at NCDEX on Tuesday stood at 17,995 tonne against 17,577 tonne on Monday, while at NMCE it was 3,105 tonne compared to 3,098 tonne on Monday. The outstanding position for July and August at NCDEX on Monday was 3,510 tonne and 7,190 tonne respectively. There was no spot selling even though exporters were ready to buy. Spot prices in tandem with the futures moved up by Rs 150 a quintal on Tuesday to close at Rs 7,250 (un-garbled) and Rs 7,650 (MG 1) from that of Monday. Besides, domestic demand was slow, as the upcountry buyers have taken a wait and watch approach.
More Stories on : Spices & Condiments | Commodity Exchanges
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2006, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|