Agri Business

Selling pressure pounds pepper

| Updated on: Dec 16, 2013

Pepper prices in spot and futures markets fell on Monday on selling pressure.

On the spot, 65 tonnes pepper, new and old mixed, arrived and of this, 62 tonnes were traded. High range pepper was traded at Rs 510-515 while the mixed material was sold at Rs 505 a kg, market sources said.Meanwhile, pepper released from the warehouses, being traded at Rs 535-540 earlier, was being offered now at Rs 525.

Selling pressure was reported from Kerala’s Kollam, Kottayam, Pathanamthitta and Malappuram districts, they said.

Severe cold weather conditions in northern States have slowed down business, resulting in slack demand, they said. January and February contracts on the NMCE decreased by Rs 229 and Rs 235 a quintal respectively to Rs 53,351 and Rs 53,490. Total turnover rose to 18 tonnes while net open position moved up to 14 tonnes.

Spot prices fell by Rs 200 to Rs 50,400 (ungarbled) and Rs 52,400 (garbled).

Indian parity in the international market declined to $8,750 a tonne (c&f) for Europe and $9,000 (c&f) for the US, they said.

Published on December 16, 2013

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