Pepper Futures Market Fall On All Contracts On Bearish Activities - Aug 05 , २008

Kochi: Pepper futures market on Aug 4 saw a fall on all contracts on bearish activities. August contract was fell by Rs 125 a quintal to close at Rs 14,065. The decline in other contracts was from Rs 100 to Rs 137 a quintal. Total turnover fell by 2,204 tonnes to 5,346 tonnes. August fell by 246 tonnes while September and October increased by 41 tonnes and 314 tonnes respectively. North Indian dealers are said to be moving around in the growing areas and primary markets, ready to purchase at terminal market price and even at higher levels. MG 1 spot price is above the August price and hence some operators were ready to sell from selective warehouses at Re 1 above the August price. The current market trend does not appear to be in the interest of the futures market and needs some correction. Spot rates in tandem with the futures market trend were down by Rs 100 a quintal to close at Rs 13,700 (un-garbled) and Rs 14,300 (MG 1) on Aug 4.