Pepper Futures Trade Higher On Short Supply (22-Feb-2012)
Pepper futures are trading high on the back of short supply and aided by the report of removal of 10% special margin on the Buy side, the commodity has suffered due to the imposition of the special margin after it started touching upper circuit limits continuously. There were reports of 40 per cent and 20 per cent drop in pepper production in Kerala and Karnataka, respectively. Though, the new crop arrivals from Vietnam and increased Indian arrivals had prevented markets from shooting up.
The contract for March delivery was trading at Rs 32,400.00, up by 0.97% or Rs 310.00 from its previous closing of Rs 32,090.00. The open interest of the contract stood at 4061 lots.
The contract for April delivery was trading at Rs 32,785.00, up by 0.99% or Rs 320.00 from its previous closing of Rs 32,465.00. The open interest of the contract stood at 1476 lots on NCDEX.
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