UPDATE FOR OCTOBER 1, 2008
Spices are expected to move sideways to higher,
stay long. Oct Jeera S 10960 R 11200
Pepper S 13700 R 14100
Turmeric S 3830 R 3890
Chilli S 5150 R 5230
Tuesday, September 30, 2008
UPDATES ON OCT 1 2008
OCT 1 WEDNESDAY
PEPPER FUTURES GAIN ON BUYING SUPPORT
AND TIGHT SUPPLY.
Pepper futures on Tuesday moved up strongly on
buying support and reports of tight supply positions
in all the origins.
October contract shot up by Rs 330 a quintal to Rs 13929
for the first time after several weeks and converged
with the spot price.
November and December contracts incresed by Rs 313
and Rs 305 to Rs 14140 and Rs 14363 a quintal
on the NCDEX.
The stocks held by the exchanges are estimated to
be around 4500 tonnes and of this 40 to 50 % will
be depleted this against pending export commitments.
There was no selling pressure in the spot market
and prices also increased in tandem with the futures
market trend by Rs 200 a quintal to close at Rs 13300
and Rs 13900 on Tuesday.
CARDAMOM
mcx October contract hit a life high of Rs 749,
subsequent to which rofit booking settled the closing
price lower at Rs 728.
The trend looks bullish though till the ensuing
festival season though the arrivals at auction centres
in Kerala and Karnataka increased considerably.
PEPPER FUTURES GAIN ON BUYING SUPPORT
AND TIGHT SUPPLY.
Pepper futures on Tuesday moved up strongly on
buying support and reports of tight supply positions
in all the origins.
October contract shot up by Rs 330 a quintal to Rs 13929
for the first time after several weeks and converged
with the spot price.
November and December contracts incresed by Rs 313
and Rs 305 to Rs 14140 and Rs 14363 a quintal
on the NCDEX.
The stocks held by the exchanges are estimated to
be around 4500 tonnes and of this 40 to 50 % will
be depleted this against pending export commitments.
There was no selling pressure in the spot market
and prices also increased in tandem with the futures
market trend by Rs 200 a quintal to close at Rs 13300
and Rs 13900 on Tuesday.
CARDAMOM
mcx October contract hit a life high of Rs 749,
subsequent to which rofit booking settled the closing
price lower at Rs 728.
The trend looks bullish though till the ensuing
festival season though the arrivals at auction centres
in Kerala and Karnataka increased considerably.
Monday, September 29, 2008
PEPPER UPDATE
PEPPER UPDATE ON 29 SEPTEMBER
The international pepper market appears to be facing a
tight supply positionwhen there is every posibility of potential
demand emerging in the coming weeks from the US and Europe
markets to cover for their uncovered portions of their winter/
New Year requirements. However it might depend on how far
the crisis in the US economy is going to impact the pepper
market there.
All the contracts went up during the week and the increase was
from Rs. 736 to Rs. 786 a quintal on NCDEX, and on NMCE
it was from Rs.686 to Rs. 829 a quintal.
Spot prices went up by Rs. 300 a quintal during the week
to close at Rs. 13100 ( ungarbled ) and Rs. 13700 ( MG1 )
at the weekend.
In India, the stock position with the exchanges is estimated at
around 5000 tonnes.Stock position at NCDEX on Sept 22
was at 4626 tonnes. The farmers , who are said to be holding
stocks, are not ready to part with their produce at current price.
Therefore , we may not have much to offer , trading sources
said adding there is going to be strong domestic demand in the
coming days.
The international pepper market appears to be facing a
tight supply positionwhen there is every posibility of potential
demand emerging in the coming weeks from the US and Europe
markets to cover for their uncovered portions of their winter/
New Year requirements. However it might depend on how far
the crisis in the US economy is going to impact the pepper
market there.
All the contracts went up during the week and the increase was
from Rs. 736 to Rs. 786 a quintal on NCDEX, and on NMCE
it was from Rs.686 to Rs. 829 a quintal.
Spot prices went up by Rs. 300 a quintal during the week
to close at Rs. 13100 ( ungarbled ) and Rs. 13700 ( MG1 )
at the weekend.
In India, the stock position with the exchanges is estimated at
around 5000 tonnes.Stock position at NCDEX on Sept 22
was at 4626 tonnes. The farmers , who are said to be holding
stocks, are not ready to part with their produce at current price.
Therefore , we may not have much to offer , trading sources
said adding there is going to be strong domestic demand in the
coming days.
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