In the Indian pepper market, the number of open interest increased yesterday. As a result, all active contracts ended at a slightly higher price.
More and more people put goods on the trading floor, and as a result, the position of goods on October 3 increased to 3,613 tons.
Meanwhile, those who are unable to reprocess and re-consign goods will be due on October 5, they have chosen to sell them for 10 rupees, lower than October delivery prices. November and December copper went up but prices were not up, market sources said Business Line.
Demand for areas far from the supply is still not urgent because there are goods from Rajasthan to meet them at Rs 400 – 405 lakhs, the source said.
On NCDEX, the final trading price (LTP) of October contract increased by Rs 65 to Rs 43,500 / quintal (approximately USD 8,306 / ton), while November and December contracts also increased by 230 Rupee and Rs 175 to Rs 43,350 / quintal (USD 8,277 / ton) and Rs 42,450 / quintal (USD 8,105 / ton). (Exchange rate: 1 USD = Rs 52.3739)
The contract price for the month is still close to the higher month.
Total revenue increased by 1,192 tons to 2,304 tons. Total open interest moved up by 430 tonnes to 8,846 tonnes indicating additional purchases and a shift in progress.
October open interest increased by 294 tonnes to 5,303 tonnes while open interest for November and December increased by 513 tonnes and 124 tonnes to 2,597 tonnes and 656 tonnes respectively.
Pepper prices in the spot market in parallel with the trend in the futures market remained unchanged from the previous level of Rs 40,000 / quintal (equivalent to US $ 7,637 / ton) for pepper and Rs 41,500 / quintal ( equivalent to 7,924 USD / ton) for pepper.
Indian specialty pepper on the world market is priced at USD 8,600 / ton (c & f), which is very high compared to that of other origins.
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