The Indian market opened the trend more easily and the price of pepper for delivery in August 2012 was as low as Rs 43,050 per quintal compared to the opening price of Rs 43,155 per quintal.
Thereafter, pepper prices traded at a high volatility and at the close the price of pepper was pushed up from Rs 43,480 per quintal to Rs 44,050 per quintal. Some investors have held the garden but unprocessed pepper sold for less than 25,000-28,000 rupees/quintal for August delivery. They have sold 20-25 tons to processors and investors. .
In the spot market, 9 tons of pepper are traded at 404, 408 and 410 rupees/kg depending on quality, type and origin.
At the NCDEX exchange, the price of pepper for August delivery increased by 440 rupees / quintal, the final trading price reached 43,590 rupees / quintal. Pepper price for September and October delivery increased by 470 rupees and 420 rupees respectively, the final trading price reached 44,015 rupees/quintal and 44,360 rupees/quintal.
Sales
Total sales fell by 1,562 tons to 3,494 tons. Total open interest fell 65 tons to 6,576 tons.
August open interest fell 174 tonnes to 5,287 tonnes while September and October contracts rose 106 tonnes and 2 tonnes to 1,208 tonnes and 74 tonnes respectively.
Spot prices rose on the back of buying activity and limited supply, trending futures markets up Rs 300 crore to close at Rs 40,400 crore (ungraded) and Rs 41,900 quintal (graded)
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