Commodities

Mixed trend in pepper

GK Nair Kochi | Updated on November 27, 2014 Published on November 27, 2014

Pepper prices witnessed a mixed trend with the futures moving up and spot prices remaining unchanged. No selling pressure was felt in the market. Only four tonnes of pepper from the plains arrived and that were traded at ₹690-700 a kg. Sellers were not forthcoming from the High Ranges for the past two days, market sources told BusinessLine. Meanwhile, rumours have resurfaced that the 6,400 tonnes of pepper held in the warehouses for over 18 months would be released soon.

This phenomenon is again creating a bearish sentiment in the market. December and January contracts on the IPSTA moved up today by ₹1,000 a quintal to ₹68,500 and ₹63,500 respectively. Spot prices remained steady at ₹68,800 (ungarbled) and ₹71,800 (garbled). Export prices were at $12,000 a tonne for Europe. Offers have not been made as the US markets are closed for Thanksgiving.

Published on November 27, 2014
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