On Friday, Indian pepper market showed mixed trend with one contract moving up while the next one fell after the efforts of investors to pull the market down.
Rumor has it that there are no new buyers even at Rs 390 a kg. Meanwhile, interstate agents are reportedly busy buying in Idukki, Pathanamthitta and Kottayam districts.
Sellers have returned to the exchange while some have turned to hedges, market sources said.
The March contract opened at Rs 35,975, which was the highest price, then traded at high volatility and the trend tapered to the lowest price at Rs 35,685 and recovered with the last traded price (LTP). is Rs 35,815 a quintal.
On the spot, only 32 tons of pepper were delivered, 30 tons were traded at Rs 395 / kg for pepper from the plains in Pathanamthitta and Kottayam districts and Rs 405 / kg for pepper from the region. high mountain. Consumption weight below 500 GL has been purchased by dealers from Jharkhand and Bihar.
On NCDEX, February contract price increased by Rs 25 to close at Rs 38,605 / quintal (equivalent to USD 7,211 / ton). March and April decreased by Rs 205 and Rs 130 respectively to close at Rs 35,810 a quintal (USD 6,689 per tonne) and Rs 34,675 a quintal (USD 6,477 per tonne). (1 USD = 53,535 Rupees)
Total turnover decreased by 367 tons to 1,205 tons. Total open interest increased by 48 tonnes to 3,648 tonnes. Open February dropped by 14 tonnes to 672 tonnes while March and April moved up by 31 tonnes and 15 tonnes respectively to close at 2112 tonnes and 569 tonnes.
Spot prices in tandem with the futures market trend and the downward trend fell by Rs 100 to close at Rs 39,500 a quintal (US $ 7,378 per tonne) for pail and Rs 41,000 a quintal (US $ 7,659). / ton) for selected type MG1.
Indian parity on the international market is 8,000 USD / ton (C&F) for fast shipment. February delivery is US $ 7,600 / ton (Cc & F) and March delivery US $ 7,000 / ton (C&F).
Source Business Line / Giacaphe.vn
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