Slow down in cash-and-carry biz pulls down pepper

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KOCHI, MARCH 13:

Pepper prices were mixed on Thursday with active contracts on the National Multi Commodity Exchange moving up, while that on the regional exchange declined. Spot markets declined marginally.

Upcountry demand has slowed down. Traders attributed slackness in demand to the stoppage of cash-and-carry business following enforcement of strict checking after declaration of the general elections, they said. Sellers were limited and hence, only 10 tonnes were reportedly traded at prices ranging between ₹510 and ₹523 depending upon the quality and area of production. Rajkumari pepper was traded at ₹525, while high range material at ₹520 a kg, market sources told Business Line. Re-processors were offering semi-processed pepper at ₹515-517 but buyers were hesitant.

On the NMCE, March and April contracts moved up by ₹417 and ₹27 respectively to ₹53,910 and ₹53,460. On the IPSTA, March and April contracts fell by ₹500 each to ₹52,300 and ₹52,260 a quintal.

Spot prices slipped further by ₹100 to ₹51,000 (ungarbled) and ₹53,000 (garbled) a quintal.

Export prices were at $8,850 c&f Europe and $9,100 a tonne c&f US.

The Hindu

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