Kochi: Pepper futures displayed an uptrend and all the contracts increased on Oct 21 on tight supply. The market was by and large slow as the exporters have assumed a wait and watch approach given the prevailing liquidity squeeze. November contract went up by Rs 107 to Rs12,842 a quintal. December and January increased by Rs114 and Rs102 a quintal to Rs 12,990 and Rs 13,138 respectively. Total turnover on NCDEX increased by 99 tonnes to 4,528 tonnes, while total open interest increased by 34 tonnes to 15,444 tonnes.
Net open position for November fell by 419 tonnes to 7,472 tonnes, December and January increased by 306 tonnes and 158 tonnes respectively. As there is a strong domestic demand, dealers from the primary markets took delivery from exchanges' validity expired stocks for north Indian markets. In the overseas market everybody is on a wait watch mode. Indian parity continued competitive at $2,900 - $3,000 a tonne (c&f).
Vietnam was not offering Asta grade while Indonesia was quoted above the Indian parity. Indian pepper at present is at an advantageous position, they claimed. Spot prices remained unaltered at previous levels at Rs 12,700 (un-garbled) and Rs 13,300 (MG 1) a quintal on Oct 21.
Net open position for November fell by 419 tonnes to 7,472 tonnes, December and January increased by 306 tonnes and 158 tonnes respectively. As there is a strong domestic demand, dealers from the primary markets took delivery from exchanges' validity expired stocks for north Indian markets. In the overseas market everybody is on a wait watch mode. Indian parity continued competitive at $2,900 - $3,000 a tonne (c&f).
Vietnam was not offering Asta grade while Indonesia was quoted above the Indian parity. Indian pepper at present is at an advantageous position, they claimed. Spot prices remained unaltered at previous levels at Rs 12,700 (un-garbled) and Rs 13,300 (MG 1) a quintal on Oct 21.
No comments:
Post a Comment