Business Daily from THE HINDU group of publications
Wednesday, Dec 05, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Wednesday, Dec 05, 2007 ePaper | Mobile/PDA Version |
|
|
|
|
|
|
|
Agri-Biz & Commodities
-
Spices & Condiments Pepper futures decline; volatility persists G. K. Nair Kochi, Dec. 4 Pepper futures market after witnessing high volatility during the day has eventually fell to bearish activities. All the contracts declined on Tuesday. The market was being run on “buy calls” and “sell calls” resulting in such volatility that it was unbelievable, market observers said. It has become a “confusing market” and that is not a healthy sign and as a result people are said to be loosing confidence in the futures market, they said. Indian parity is at $3,700 a tonne (c&f) and therefore “no chance to receive support internationally”, they said. Indonesia has been selling at $3,400 a tonne (c&f) while Brazil at $3,100 a tonne (f.o.b.), they said. December contract on NCDEX on Monday declined by Rs 82 a quintal to Rs 13,503. The drop in other contracts was from Rs 7 to Rs 100 a quintal. On NMCE, December contract fell by Rs 63 a quintal to Rs 13,450. The drop in other contracts except April was from Rs 17 to Rs 96 a quintal. April moved up by Rs 108 a quintal to Rs 14,356. Turnover dipsTotal turnover on NCDEX fell by 684 tonnes to 11,297 tonnes, while that for December and January dropped by 14 per cent and 79 per cent respectively. On NMCE, total turnover declined by 259 tonnes to 1,346 tonnes. Total open interest on NCDEX dropped by 170 tonnes to 20,063 tonnes. December position fell by 26 per cent while January moved up by 52 per cent. On NMCE, total open interest declined by 66 tonnes to 1,562 tonnes. Spot prices on Tuesday ruled steady at previous levels at Rs 13,000 (un-garbled) and Rs 13,600 (MG 1) a quintal. More Stories on : Spices & Condiments | Commodity Markets
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 | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
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
|