Financial Daily from THE HINDU group of publications
Monday, Apr 17, 2006
Financial Daily from THE HINDU group of publications Monday, Apr 17, 2006 |
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Agri-Biz & Commodities
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Spices & Condiments Uptrend seen in pepper futures G.K. Nair
Kochi , April 16 The pepper market, which was steady last week, is likely to move up starting Wednesday next, whenthe international market resumes its activities after the Easter holidays. Added to this, the value of rupee has also dropped against the dollar. In case, this trend continues next week, buying activities would pick up, especially, from the select pockets so as to prefer the premium Malabar Gold. Futures prices were moving up earlier. But, as the investors came in and bought spot and started selling futures, it began to decline. Thus, the selling pressure has pushed down the futures prices. Market sources told Business Line that the decline in rupee-value might bring down the Indian parity to $1,690-1,700 a tonne (c&f) from $1,725. World market prices are also steady with Brazil offering $1,650 a tonneand Indonesia also at that level. Malaysia was quoting $1,700 a tonne, while Vietnam was at $1,500 a tonne (all c&f). The buyers in selectmarkets had shown interest to buy Indian pepper, they claimed.
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