Business Daily from THE HINDU group of publications
Thursday, Oct 11, 2007
ePaper
Business Daily from THE HINDU group of publications Thursday, Oct 11, 2007 ePaper |
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Agri-Biz & Commodities
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Spices & Condiments Pepper futures continue upward run G.K. Nair Kochi, Oct. 10 The pepper futures market continued its race upward, on tight supply position and buying support. When availability was not there the market was artificially pressed down and now it is bouncing back, market observers told Business Line. Exporters were covering, but they were said to be apprehensive of getting delivery following the reduction in the penalty structure. International demand was there but as the prices have shot up now there was no follow-through at the current rate, they said. Indian parity touched $3,850 a tonne (fob). Prices of other origins have also moved up in tandem with the Indian futures market trend. Indonesia was offering at $3,850 a tonne (fob). Vietnam was offering V Asta at $3,615 a tonne (f.o.b.). CONTRACT POSITIONOctober contract on NCDEX on Wednesday moved up by Rs 291 a quintal to close at Rs 13,719, from Rs 13,428 on Tuesday. The increase in other contracts was from Rs 337 to Rs 717 a quintal. On NMCE, October contract shot up by Rs 355 a quintal to close at Rs 13,490 from Rs 13,135. The rise in other contracts was from Rs 283 to Rs 535 a quintal. The total turnover on NCDEX increased by 7,629 tonnes to 31,191 tonnes while that for October, November and December went up by 9 per cent, 72 per cent and 16 per cent respectively. Spot prices shot up by Rs 300 a quintal to close on Wednesday at Rs 13,000 (un-garbled) and Rs 13,600 (MG 1). More Stories on : Spices & Condiments
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