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.