Date:26/12/2007 URL: http://www.thehindubusinessline.com/2007/12/26/stories/2007122650671100.htm

Back Bears pull down pepper futures

G.K. Nair

Kochi, Dec. 25 Pepper futures dropped on bearish activities and for want of buying support. Prices of all the other origins continued to remain stable at low prices. Indian parity of $3,500-$3,600 a tonne (c&f) is comparatively at higher levels.

Meanwhile, according to a report from the Brazil Pepper Trade Board, all the “exporters and growers are expecting strong rise in the prices in January due to India’s short crop and Vietnam’s delayed crop. Target is above $3,400 f.o.b”.

CONTRACT POSITION

January contract on NCDEX on Monday dropped by Rs 194 a quintal to Rs 13,470. The drop in other contracts was from Rs 250-323 a quintal. On NMCE, January contract fell by Rs 244 a quintal to Rs 13,400. The fall in other contracts was from Rs 10-250 a quintal.

Spot prices wereRs 12,800 (un-garbled) and Rs 13,400 (MG 1) a quintal.