Commodities

Domestic buying lifts pepper

G. K. Nair Kochi | Updated on August 12, 2013 Published on August 12, 2013




Pepper futures on Monday moved up on good domestic demand and all the active contracts ended much above the previous day closing.



On the spot, 25 tonnes arrived and 30 tonnes were traded at Rs 393 a kg.

The bullish trend in the market aided the price rise on both the futures and the spot.

Sri Lanka was exporting 500 GL pepper to India, Dubai, Vietnam etc. at $5,800 a tonne.

In the international markets, no activities were reported.

Europeans are on summer holidays.

Overseas buyers are also said to be waiting for the arrival of Indonesian crop. Aug, Sep and Oct contracts on the NMCE increased by Rs 268, Rs 551 and Rs 274 respectively to Rs 41,700 and Rs 42,500 and Rs 41,925.

Total turnover moved up by eight tonnes to 32 tonnes.

Total open interest decreased by eight tonnes to 67 tonnes.

Spot prices gained by Rs 200 to close at Rs 39,300 (ungarbled) and Rs 41,300 (garbled) on limited activities.

Indian parity in the international market was at $7,000 a tonne (c&f) Europe at $7,250 a tonne (c&f) US and remained out priced.

Published on August 12, 2013
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