Pepper prices eased slightly on Wednesday, April 3, after concerted efforts to force buyers to switch to May contracts as they appeared to be out of stock.
May contract dropped Rs 710 to Rs 35,440 a quintal, while April contract dropped Rs 425 to Rs 35,505 a quintal from the highest price of Rs 35,930 a quintal at the beginning of the morning.
On the spot, 27 tons of fresh pepper were delivered and 25 tons were traded.
April contract on the NCDEX fell 10 rupees to close at Rs 35,655 a quintal (USD 6,556 per tonne) while the May contract dropped Rs 75 to Rs 35,680 a quintal ($ 6,561 per tonne).
Total turnover increased by 634 tonnes to close at 1,397 tonnes. Total open interest increased by 12 tonnes to 2,236 tonnes.
April open interest dropped by 120 tonnes to close at 1008 tonnes while open interest in May increased by 132 tonnes to 1228 tonnes indicating a switching trade.
Spot prices were unchanged, tailored to demand and offered in the context of limited operations, at Rs 34,700 a quintal (equivalent to US $ 6,380 per tonne) for pail and Rs 36,200 a quintal (US $ 6,656). / ton) for MG 1 type of pepper. And traded on NCDEX, spot price stood at Rs 36,445 / quintal (equivalent to US $ 6,701 / ton).
Source Business Line / Giacaphe.vn
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