Financial Daily from THE HINDU group of publications
Wednesday, Apr 26, 2006

Cross Currency

Group Sites

Agri-Biz & Commodities - Spices & Condiments

Pepper futures decline

G.K. Nair

Exporters have slowed down their purchase. Also, holidays have affected market sentiments. Three buyers withdraw; $ falls

Kochi , April 25

Strengthening of the rupee against the dollar and consequent withdrawal of three major buyers led to a sharp fall in pepper futures prices on Tuesday.

Added to this, unconfirmed reports of a possible revalidation of stocks expiring on May 5, which would come up for delivery next month, also contributed to the decline in future prices, market sources told Business Line. "Buyers are worried," they said.

Exporters have also slowed down buying on reports of a strike by port workers and the holidays on April 29, April 30 (Sunday) and May 1. All these factors have negatively affected futures trading, they pointed out.

Besides, the May position is estimated at around 8,300 tonnes, which is also not a healthy sign, they said adding that futures might fall further.

The last trading prices have shown a decline ranging from Rs 143-Rs 180 a quintal from Monday's closing at NCDEX while the drop ranged from Rs 97 - Rs 172 a quintal at the NMCE.

More Stories on : Spices & Condiments | Commodity Markets

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Furness Australia arrives in Chennai with 50,855 t wheat

Govt to modify draft of agri insurance plan
Spot rubber tops Rs 90/kg
`Farmers to benefit from runaway rubber price'
Rajshree Sugars board meet on May 3
Sugar weak
Dept of Posts ventures into tea marketing
Tea hub
Smuggling of tea into Pak worries tea exporters
Precious metals slip further
Platinum, palladium to stay firm
Demand keeps soyameal exports buoyant
Palmolein up on buying
Pepper futures decline
Cardamom growers cut farm inputs
Govt to modify draft of agri insurance plan
`Trade talks must go beyond agriculture'
Trading in foreign commodity exchange terminals needs FMC approval
Record funds flow into commodities

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line