Black pepper futures up on NCDEX
Black pepper today rose by nearly 0.75 per cent in the domestic futures market on speculative buying, triggered by deficient rains in Kerala, the major producer of the commodity.
By PTI |
NEW DELHI: Black pepper today rose by nearly 0.75 per cent in the domestic futures market on speculative buying, triggered by deficient rains in Kerala, the major producer of the commodity.
At 1130 hrs, black pepper for July contract traded 0.75 per cent higher to Rs 14,200 per quintal after rising to Rs 14,220 per quintal at the outset on NCDEX counter. It recorded business volume of 178 tonnes.
Traders said pick up in speculative buying activity on expectations of further rise in the commodity prices in view of deficient monsoon rains in pepper-producing state led to the increase in the prices.
For far-month August delivery also gathered 1.1 per cent to Rs 14,560 per quintal after trading between Rs 14,614 and Rs 14,420 per quintal. It clocked business volume of 2,378 tonnes.
Meanwhile in spot market, black pepper prices were ruling higher at Rs 14,400 per quintal at Kochi, Kerala.
At 1130 hrs, black pepper for July contract traded 0.75 per cent higher to Rs 14,200 per quintal after rising to Rs 14,220 per quintal at the outset on NCDEX counter. It recorded business volume of 178 tonnes.
Traders said pick up in speculative buying activity on expectations of further rise in the commodity prices in view of deficient monsoon rains in pepper-producing state led to the increase in the prices.
For far-month August delivery also gathered 1.1 per cent to Rs 14,560 per quintal after trading between Rs 14,614 and Rs 14,420 per quintal. It clocked business volume of 2,378 tonnes.
Meanwhile in spot market, black pepper prices were ruling higher at Rs 14,400 per quintal at Kochi, Kerala.
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