Kochi: The continued decline in the pepper prices resultant from the pessimistic cartel operations has made the commodity competitive for the past several weeks. However, the fall in the prices at all other origins has been marginal and the prices of Asta grade pepper continued to rule above the Indian parity. Bearish cartels have been consistently pushing the prices down and that might benefit the overseas purchasers. All the contracts on NCDEX during the week declined by Rs 601 to Rs 819 a quintal while on NMCE it fell by Rs 445 to Rs 560 a quintal.
The total open interest on NCDEX moved up by 795 tonnes to 26,036 tonnes while on NMCE it went up by 208 tonnes to 2,612 tonnes. The total turnover on NCDEX increased by 31,317 tonnes to 1,36,749 tonnes during the week while on NMCE it went up by 3,213 tonnes to 10,866 tonnes. August and September prices remained below spot prices on the exchanges. Spot prices dropped by Rs 400 a quintal during the week to close at Rs 13,200 (un-garbled) and Rs 13,800 (MG 1) at the weekend close.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment