Pepper Futures Exhibit Mixed Trend (21-Jun-2012)
Pepper futures were exhibiting mixed trend on NCDEX. The commodity for the near term delivery slipped as traders were stressed over weak export demand, on account of high priced Indian-origin pepper in the global market. Indian-origin pepper is reportedly offered at a premium of around $300-400 per tonne compared to other suppliers in the oveseas market. Hopes of fresh supplies from Indonesia and Brazil by end-June also weighed on sentiment. Global pepper production in 2012 is expected to increase by 7.2% to 3.20 lakh tonnes as compared to 2.98 lakh tonnes in 2011. On the flip side, Indian production is expected to be lower due to adverse weather, lower acreage and a fall in productivity.
The contract for July delivery was trading at Rs 40705.00, down by 0.06% or Rs 25.00 from its previous closing of Rs 40730.00. The open interest of the contract stood at 3389 lots.
The contract for August delivery was trading at Rs 40985.00, up by 0.11% or Rs 45.00 from its previous closing of Rs 40940.00. The open interest of the contract stood at 1350 lots on NCDEX.
Top News Today
 Income Tax department has slapped a fresh $106 million (about Rs 582 crore) tax demand notice on Infosys, for 2009 fiscal, adding to the tax woes of India's second largest IT firm. The Bangalore-based...
 Amid uproar over the poor quality of imported coal, the government is planning calling in specialist quality control monitors to prevent poor quality coal imports getting through to its import-reliant...
 Former Citigroup CEO Vikram Pandit is set to make an entry into the country's financial sector by buying, along with partner Hari Aiyar, a three percent stake in JM Financial. The two will...
|
International Stock News
 Most of the Asian equity markets are trading in green in Monday's morning trade tracking a positive global lead after key US indices notched another record finish on Friday. Japanese markets...
 The US markets climbed on Friday, advancing to a fourth weekly gain, with both the Dow industrials and the S&P 500 at all-time high close, after data cast a positive spin on the economy....
 Asian stock markets ended mostly higher on Friday, with Japanese market rising as the yen's slight decline triggered some buying at lower levels. Chinese market went home with green mark...
|
|
Recent Commodity-Market >> Pepper News
|
|