Pepper Futures Fall On Bull Liquidation (12-Mar-2010)
The pepper futures tumbled on Thursday on bull liquidation under pressure from bearish operators.
The prices declined by Rs 200 a quintal in the last 45 minutes.
The sources said that the firmness was witnessed in Vietnam whereas witnessed a sharp fall.
Those who were holding long positions were forced to switch over or liquidate and that led to the decline in the prices, they said.
On NCDEX, the March contract fell by Rs 187 to close at Rs 12,642 a quintal While the April and May contracts tumbled by Rs 191 and Rs 171 respectively to Rs 12,912 and Rs 13,187 a quintal.
The total turnover fell by 658 tonnes to 3,658 tonnes. Meanwhile, the total open interest slipped by 143 tonnes to 9,904 tonnes. Moreover, the March open interest dipped by 289 tonnes to 5,018 tonnes while of April and May surged by 111 tonnes and 25 tonnes respectively to 4,383 tonnes and 349 tonnes.
Indian parity in the overseas market dropped to $3,000 a tonne.
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