Business Daily from THE HINDU group of publications
Tuesday, Oct 31, 2006
ePaper
Business Daily from THE HINDU group of publications Tuesday, Oct 31, 2006 ePaper |
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Agri-Biz & Commodities
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Spices & Condiments Pepper futures move up G.K. Nair
Kochi , Oct 30 The prices of pepper futures moved up on Monday but remained far below international prices amid allegations of manipulation. Indian parity remained at $2,675 a tonne (c&f) as against Brazil's $2,725 (f.o.b.) for B-Asta and Indonesia's $3,000 a tonne (c&f) for L-Asta. Brazil was offering B1and B2 at $2,650 and $2,575 (f.o.b.) respectively. Vietnam was quoting FAQ 500 GL at $2,550-2,600 (f.o.b.). Even overseas players are surprised at the sharp decline in Indian prices when international prices are ruling high. On the NCDEX, all contracts moved up except March, which declined by Rs 5 a quintal. The November contract gained Rs 196 to close at Rs 10,730, from Rs 10,534 last Saturday. Increase in other positions was from Rs 128 to Rs 335 a quintal. On the NMCE, the November contract fell by Rs 350 a quintal to close at Rs 10,200, from Rs 10,550 last Saturday. December moved up by Rs 65 to close at Rs 10,608 (Rs 10,541), while all other positions witnessed a decline between Rs 33 and Rs 167.
Turnover up
However, the turnover on the NCDEX went up by 30,046 tonnes to 45,431 tonne (15,385 tonnes). On the NMCE it increased by 2,738 tonnes to 7,819 tonnes (5,081 tonnes). Total open interest on the NCDEX stood at 23,394 tonnes (23,318 tonnes), while on the NMCE it was 4,930 tonnes (4,892 tonnes). The outstanding position for November and December on the NCDEX was 7,558 tonnes and 11,472 tonnes respectively, while that on the NMCE for December was 3,958 tonnes. The spot prices ruled steady at previous levels of Rs 10,600 (un-garbled) and Rs 11,200 (MG 1).
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