The Indian market opened the trend easier and the price of pepper delivered in August 2012 was at a low level of Rs 43,050 a quintal compared to the opening price of Rs 43,155 a quintal.
After that, pepper prices traded at high volatility and at closing prices were pushed up from Rs 43,480 a quintal to Rs 44,050 a quintal. Some investors who hold the unprocessed pepper at the garden sell for less than 25,000-28,000 rupees a quintal delivered in August. They sold 20-25 tons to processors and investors. .
In the spot market, 9 tons of pepper were traded at 404, 408 and 410 rupees per kg depending on quality, type and origin.
At the NCDEX Exchange, pepper price for August delivery increased by 440 rupees per quintal, the final trading price reached 43,590 rupees per quintal. Prices of pepper delivered for September and October futures increased by 470 rupees and 420 rupees, respectively, respectively. The final transaction price was 44,015 rupees and 44,360 rupees a quintal.
Sales
Total turnover decreased by 1,562 tons to 3,494 tons. Total open interest dropped by 65 tonnes to 6,576 tonnes.
August open interest dropped by 174 tonnes to 5,287 tonnes while that of September and October increased by 106 tonnes and 2 tonnes respectively, to 1,208 tonnes and 74 tonnes respectively.
Spot prices increased as a result of buying-backed activities and limited supply, the forward market trend increased by 300 rupees at the close to 40,400 rupees / quintal (unclassified) and 41,900 rupees / quintal (graded).
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