• 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

Kochi, July 27

The pepper futures market on Friday fell on bearish activities, while the fundamentals remained unchanged.

Spot sellers were limited at lower levels as the futures market continued its declining trend. Nearly 30 tonnes of spot pepper was traded.

The market is totally in the hands of intra-day traders who are pushing it up and down, market sources alleged.

Reports that Vietnam has reduced its prices have also contributed to the decline in the futures. Vietnam was offering Asta grade at $3,800 a tonne (f.o.b) while Brazil was quoting B Asta at $3,800 - $3,900 (f.o.b). Indian parity is at $3,900 a tonne (f.o.b). Strengthening of dollar on Friday has made the Indian prices advantageous. Anticipating further fall in the prices the US buyers are said to have totally withdrawn.

The FMC is convening a meeting of all stakeholders from western and South India in Hyderabad on Saturday to discuss the issues related to the futures trading in commodities and “we are waiting for the outcome of it”, they said. Spot prices in tandem with the futures market trend dropped by Rs 200 a quintal on Friday to close at Rs 13,800 (un-garbled) and Rs 14,400 (MG 1).

More Stories on : Spices & Condiments

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

Stories in this Section
Farm Ministry notifies evolved basmati variety for export

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