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Article: Black pepper futures on a sticky wicket.
- Article from:
- Economic Times (New Delhi, India)
- Article date:
- September 26, 2005
CopyrightCOPYRIGHT 2005 The Economic Times. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Ratna Ganguli
Sep. 26--KOLKATA, India -- The prime variety of Indian black pepper, Malabar Grade-1, is now offered at a discount of Rs 300 per quintal in futures market over its prevailing spot prices in mandis. Right now, it is quoting at Rs 6,400 per quintal for spot buying from mandis in Kerala and Karnataka. Compared to this, its futures prices in commodity exchanges are moving between Rs 6,100 and Rs 6,050 per quintal for delivery by mid-October.
Sources said futures prices of the Malabar Grade-1 black pepper are now under pressure as some 8,353 tonnes of that variety of pepper, booked under futures contarcts, are due for physical delivery ...