Business Daily from THE HINDU group of publications
Tuesday, Jun 30, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Tuesday, Jun 30, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Agri-Biz & Commodities
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Spices & Condiments States - Kerala Pepper futures ease on selling pressure G.K. Nair Kochi, June 29 The pepper futures market was easier on Monday on selling pressure caused by fears that imported pepper was flooding the market. Trading sources alleged that imported pepper was being sold at discount as Wayanadan pepper. The latter is sold at Rs 130 a kg while the imported stuff is allegedly sold at Rs 115 – 125 a kg. The landed cost of 500 GL pepper would come to Rs 95 to Rs 105 a kg, market sources told Business Line. Also, farmers were liquidating stocks to meet the college admission expenses. Apart from this, the strict vigil on the borders by the Kerala Sales Tax department to arrest smuggling of pepper into Tamil Nadu where no tax is levied, seems to have yielded positive results. The arrivals at the terminal market have, of late, picked up and 40 tonnes of the material are said to have landed on Monday, they said. Exporters having commitments made earlier were also covering. Indian parity in the international market was $2,775 a tonne (c&f) and remained outpriced. Local demandDomestic demand was slow due to the heat conditions prevailing in North India. Some demand could emanate after the onset of monsoon probably from next month, they said. July contract on NCDEX on Monday declined by Rs 64 to close at Rs 12,810 a quintal. August and September dropped by Rs 73 and Rs 85 respectively to close at Rs 12,960 and Rs 13,100 a quintal. Total turnover declined by 93 tonnes to close at 1,030 tonnes. Total open interest moved up by four tonnes to close at 6,664 tonnes. More Stories on : Spices & Condiments | Kerala
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