Business Daily from THE HINDU group of publications
Thursday, May 31, 2007
ePaper
Business Daily from THE HINDU group of publications Thursday, May 31, 2007 ePaper |
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Agri-Biz & Commodities
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Spices & Condiments Pepper futures up a tad on buying support G K Nair
Kochi May 30 Pepper futures market witnessed slight improvement on buying support on Wednesday. There were no ready sellers. Exporters were covering from the exchanges for shipping out. State Warehousing Corporation has made available some space and about 25 truckloads of pepper would be stored there in two days, market sources told Business Line. In the international market Vietnam was said to be better with FAQ 500 GL moving up to $3,650 a tonne (f.o.b.). V Asta was being quoted at $4,000 (f.o.b.). Indonesia and Brazil were firm at $3,900-3,950 a tonne (f.o.b.). Indian parity was at $3,850-3,900 a tonne (f.o.b.) and hence remained competitive. The general freight hike from July 01 by $300 per 20 feet containers coupled with a strong rupee against the dollar is likely to push up the Indian parity in the coming days, they pointed out.
FUTURES MOVE UP
Jun contract on NCDEX moved up to Rs 27 a quintal on Wednesday to close at Rs 13,690 from Rs 13,663 on Tuesday. All the other contracts improved by Rs 28 to Rs 125 a quintal except October, which was down by Rs 45 a quintal. On NMCE June contract increased by Rs 68 a quintal to close at Rs 13,350 from Rs 13,282. July and October dropped by Rs 45 and Rs 50 a quintal respectively while August and November went up by Rs 245 and Rs 50 a quintal respectively. September remained unchanged.
Turnover down
The total turnover on NCDEX fell by 7,190 tonne to 18,635, while on NMCE it declined by 422 tonne to 1,961 tonne. The total open interest on NCDEX declined by 14 tonne to 25,106 tonne. June fell by 357 tonne to 11,139 tonne while July and August improved by 141 tonne and 183 tonne respectively to 9,255 tonne and 2,906 tonne. On NMCE total open interest moved up by 67 tonne to 3,404 tonne. June position also increased by 68 tonne to 2,474 tonne.
Spot prices
Spot prices declined by Rs 100 a quintal on weak demand on Wednesday to Rs 13,500 (un-garbled) and Rs 14,100 (MG 1).
More Stories on : Spices & Condiments | Commodity Exchanges
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