Commodities

Pepper falls on profit-booking

PTI New Delhi | Updated on May 12, 2011 Published on May 12, 2011

Profit-booking by speculators mainly put pressure on pepper prices but strong spot demand and restricted supplies capped the losses.   -  Business Line

Pepper futures fell by 0.85 per cent to Rs 30,600 a quintal today amid profit-booking by speculators.

However, restricted supplies and firm demand in the spot markets, limited the losses.

At the National Commodity and Derivatives Exchange, pepper for delivery in July fell by Rs 263 or 0.85 per cent to Rs 30,600 per quintal with an open interest of 1,537 lots.

Similarly, the spice for delivery in June moved down by Rs 167 or 0.55 per cent to Rs 30,390 per quintal, clocking an open interest of 13,835 lots.

Analysts said profit-booking by speculators mainly put the pressure on prices but strong spot demand and restricted supplies, as farmers have held back their produce in anticipation of further rise, capped the losses.

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Published on May 12, 2011
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