Pepper Futures Went Up (03-Feb-2010)
On Tuesday, pepper futures went up on good domestic demand and shrinkage in availability contrary to expectations.
Good domestic demand, with active buying by the small and medium players in the grinding industry, due to the favourable weather conditions has pushed up the spot prices by Rs 100 a quintal.
Some 10 tonnes of new pepper below 500 GL with more moisture content was reportedly traded at Rs 13,300 a quintal in the terminal market.
February contract on the NCDEX rose by Rs 144 to close at Rs 13,677 a quintal. March and April moved up by Rs 154 and Rs 111, respectively, to close at Rs 13,953 and Rs 14,181 a quintal.
Total turnover inclined by 2,403 tonnes to 5,115 tonnes. Total open interest dropped by 118 tonnes to 11,468 tonnes. February open interest declined by 323 tonnes to 7,210 tonnes, while that of March moved up by 238 tonnes. But, April declined by 33 tonnes.
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