DECLINE IN PEPPER FUTURES
(Mar-13-2012)
Date: 13.03.2012
On Monday (12 March 2012), the pepper prices dropped on bearish reports and activities coupled with some slow down in domestic demand.
The market was opened on a firm note and it went up to the highest levels to slide with high volatility and in the mid afternoon session it touched the second lower circuit breaker level at Rs 39,210 for Mar, Rs 39,920 for April and Rs 40,240 for May. Thereafter the market recovered and traded with high volatility and to the last traded price above the first lower circuit levels.
The March contract on the NCDEX dropped by Rs 1,090 to the last traded price of Rs 39,750 per quintal. The April and May contracts decreased by Rs 945 and Rs 1,015 respectively to the LTP of Rs 40,635 and Rs 40,900 per quintal.
The spot prices in tandem with the futures market price dropped by Rs 1,000 per quintal to close at Rs 37,500 for ungarbled and Rs 39,000 for Garbled.
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