Financial Daily from THE HINDU group of publications
Monday, Jun 12, 2006
Financial Daily from THE HINDU group of publications Monday, Jun 12, 2006 |
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Agri-Biz & Commodities
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Spices & Condiments Pepper may witness demand G. K. Nair
Kochi , June 11 Pepper futures market abruptly declined Saturday on selling pressure at the closing. Activities were, however, confined to processors taking delivery from one warehouse and delivering to another warehouse. In fact, the produce is not moving out of the state or the country, market sources said adding, "it is not a healthy sign". All the positions on NCDEX and NMCE on Saturday fell. The decline was from Rs 48 to Rs 77 a quintal on NCDEX, while on NMCE it was from Rs 12 to Rs 102 a quintal. June delivery on NCDEX fell to Rs 6,450 on Saturday from Rs 6,514 the previous day, while on NMCE it dropped by Rs 102 to close at Rs 6,400 from Rs 6,502 a quintal. Compared withlast Saturday, the drop in NCDEX for all positions was from Rs 87 to Rs 159, while on NMCE, it was from Rs 100 to Rs 228 a quintal. The turnover on NCDEX on Saturday was 1,148 tonne compared with 838 tonnes the previous weekend. On NMCE, it was 271 tonnes as against 40 tonnes. In the international market "our parity is at competitive levels" as Indonesia was quoting $1,650, while Brazil $1,575-1,600 and Malaysia $1,700 a tonne (c&f). Therefore, some demand could be expected in this month.
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