Date:26/05/2006 URL: http://www.thehindubusinessline.com/2006/05/26/stories/2006052602321700.htm

Back Pepper futures rule steady

Our Bureau

Kochi , May 25

The pepper futures market almost ruled steady on Thursday.

Investors, who are holding back the stock for want of space in the NCDEX warehouse, are not buying. The onset of rains has also weakened supply, while buyers are waiting.

The trade expressed doubts as to whether the deliveries reported by some of the exchanges were actually materialised, as it has not reflected on their open position.

In the international market, Indian price is almost on par with that of other origins. As against the Indian parity of $1,675 a tonne, Indonesia and Brazil are quoting $1,650 a tonne. At this level, the demand is expected from overseas in the coming days, market sources said.

VIETNAM FIRM

Vietnam market is reported to be firmer and its ASTA grade is almost on par with MLV origins for July/September 6.

However, international players are waiting for the Indonesian harvesting expected to begin in a couple of months. June position on NCDEX was up Rs 4 a quintal to close at Rs 6,893 as against Rs 6,889 on Wednesday. Except for Sept delivery, which was down by Rs 35, a quintal all the other positions showed an increase from Rs 8 to Rs 45.

Spot prices continued to rule steady at Rs 6,700 (un-garbled) and Rs 7,100 (MG 1) a quintal.