KOCHI, MARCH 5:
Selling pressure in Karnataka pushed prices of fresh pepper on both futures and spot market on Tuesday and consequently all the active contracts ended much below the previous day’s closing.
There was liquidation, switching over and some additional buying.
Karnataka dealers were said to be offering the material at Rs 350 a kg delivered anywhere in India on cash and carry basis, market sources told Business Line.
Meanwhile, arrivals from the growing areas in Kerala were thin and only 25 tonnes of fresh pepper arrived today and that were traded afloat at prices between Rs 350 and Rs 365.
March contract on the NCDEX decreased by Rs 500 to Rs 36,260 a quintal. April and May fell by Rs 660 and Rs 565 respectively to Rs 34,715 and Rs 33,810.
Spot prices, in tandem with the futures, dropped by Rs 600 to Rs 35,400 (ungarbled) and Rs 36,900 (MG 1) a quintal.
Source: Business Line