• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

G.K. Nair

Advertisement

Kochi Feb 25 High volatility in the pepper futures market coupled with uncertainty has put the market players in a dilemma. Added to this is the non-availability of space in the warehouses of national exchanges as people who sold March positions are said to be unable to make delivery.

"Now everything depends upon the delivery," market observers told Business Line.

However, there would be buying activity once the markets in other origins re-open on Monday.Trading sources said the Government should consider spending the balance amount in the allocated funds of Rs 14 crore for the pepper export subsidy, as that would help the country to export at least 10,000 tonnes more.According to sources, out of the Rs 14 crore earmarked for extending subsidy for export of pepper only Rs 9.4 crore had been spent for exporting 20,000 tonnes. Pepper futures witnessed a drop at the current weekend close. The drop was from Rs 17 to Rs 311 a quintal.

However, on Saturday the prices moved up marginally in the exchanges. On NCDEX, March contract went up by Rs 47 a quintal to Rs 12,475. The increase in other contracts was from Rs 2 to Rs 62 a quintal.

On NMCE, March contract increased by Rs 74 on Saturday to Rs 11,915. The rise in other contracts was from Rs 80 to Rs 93 a quintal.

The total turnover on NCDEX on Saturday fell sharply by 14,703 tonnes to 11,847 tonnes, while on NMCE it dropped by 4,376 tonnes to 1,643 tonnes.

The total open interest on NCDEX moved up by 135 tonnes to 30,017 tonnes. The March position fell by 715 tonnes to 13,693 tonnes, while April moved up by 351 tonnes to 8,805 tonnes.

On NMCE, the total open interest dropped marginally by 42 tonnes to 5,033 tonnes.

The spot prices on Saturday ruled steady at Rs11,600 (un-garbled) and Rs12,200 (MG 1) a quintal. However, during the week it witnessed a drop of Rs200 a quintal from the closing price of previous Saturday.

More Stories on : Spices & Condiments | Commodity Exchanges

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Coonoor tea buyers seek status quo in auctions

Copyright © 2007, 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