Pepper Futures Went Up Slightly (01-Feb-2010)
On Monday, pepper futures marginally went up on good domestic buying support and limited arrivals. There has been good domestic demand and it is being met mainly by direct buying from the primary markets by interstate dealers, trading sources said.
Arrivals at the primary and terminal markets are yet to pick up. Delayed harvesting appears to have forced the growers and dealers to replenish their stocks, which were liquidated when the prices were hovering around Rs 15,000 a quintal last year.
The futures market was slow on 1st February. In the overseas markets, buyers are on a wait and watch approach, anticipating the prices to come down. There are 16 days for February maturity and the outstanding position today stood at 7,533 tonnes.
Turnover fell by 137 tonnes while open interest moved up by only 171 tonnes. February contract on NCDEX improved by Rs 24 to close at Rs 13,542 a quintal. March and April contracts moved up by 13 and 35 tonnes to Rs 13,809 and Rs 14,050 a quintal respectively.
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